Revise QR in FTX

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Aug 6th, 2022
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How to revise QR in FTX

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this is a simple case in my mind of where did the money go and I said Sam walk me back 24 months tell me the use of proceeds of the assets of your company where did you spend it and then he told me about a transaction that occurred over the last 24 months the repurchase of his shares from binance his competitor I didnamp;#39;t know this at the time but at some point CZ or binance who runs binance purchased 20 ownership in sandbank and Freedamp;#39;s firm for seed stock apparently ing to Sam bankman freed CZ would not comply with The Regulators requests in these different geographies these different jurisdictions to provide the data that would clear them for a license he withheld it ing to Sam Beckman freed the only option the management and sandbankment freed had was to buy him out

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At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals. Binance announced it would buy FTX to prevent a larger market crash, but quickly bailed out of the deal as more news reports of mishandled customer funds surfaced.
NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall.
FTX, a major cryptocurrency exchange, and FTX.US, its U.S. branch, filed for Chapter 11 bankruptcy on Nov. 11, 2022. Former founder and CEO Sam Bankman-Fried, known as SBF, was arrested on Dec.
FTX now says that 98% of its creditors, including individual investors who had US$50,000 or less with FTX, will receive the funds they lost. Payments will be made in cash within 60 days of a reorganisation plan going into effect. However, this plan still needs to be approved by a US bankruptcy court and by creditors.
The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users.
Bankman-Fried was found to have stolen at least $8 billion from FTX customers. He was also ordered to pay $11 billion today.

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