Remove expense in FTX smoothly

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Aug 6th, 2022
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How to Remove expense in FTX

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FTX announced they were working on creating a stable coin November 2nd 2022 the balance sheet of FTX is leaked to coindesk a dcg controlled media arm November 9th CZ dumps ftt and the rest is history I would like to submit his evidence FTX getting brought down yes they were insolvent yes it was their fault more tied to this article than any article that youve ever read stable coins this is where the banks plan to control crypto plan to control privacy make it where you cant spend your own money its dangerous dangerous dangerous territory

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FTX filed for bankruptcy in November after a run on customer deposits exposed an $8 billion hole in its accounts. Mr. Bankman-Fried, 30, was then arrested last month at his home in the Bahamas, where FTX was based, and swiftly extradited to the United States.
What happened to FTX? FTX and FTX.US crashed due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it including Ethereum and Bitcoin, which docHubed a two-year low as of Nov. 9.
It has been estimated that $8bn of customers funds was missing. US federal prosecutors have accused Mr Bankman-Fried of misappropriating FTX customers funds to pay debts at his cryptocurrency trading firm Alameda Research and to make other investments.
The crash exposed an $8 billion hole in FTXs accounts, leaving investors and customers scrambling to recoup their funds.
FTX says it has identified a deficit of $8.9 billion in customer funds that it cant account for, the first time the bankrupt cryptocurrency exchange has pinned down how much money has gone missing.
FTXs attorney estimated the seized assets were worth as little as $170m while Bahamian authorities put the figure as high as $3.5bn. The seized assets are largely composed of FTXs proprietary and illiquid FTT , which is highly volatile in price, Dietderich said.
Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.
The U.S. attorneys office in Manhattan has created a special task force to pursue its investigation into the collapse of FTX, the crypto exchange founded by Mr. Bankman-Fried.

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