Revise question in FTX smoothly

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Aug 6th, 2022
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How to Revise question in FTX

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- [Narrator] Over $150 billion. In three days, thats how much the worlds 15 largest cryptocurrencies lost in market value. Its because of the Crypto Exchange platform FTX, which is behind this , named FTT. On November 6th, the tokens value began to fall, losing more than 80% of its worth in the span of 72 hours. Once seen as a survivor in a struggling market, the fall of FTX has sent shockwaves through the cryptocurrency industry. So, what went wrong? FTX is the brainchild of Sam Bankman-Fried. Hes commonly known as SBF on social media. Hes been previously hailed as a savior of the crypto industry. - You were called the JP Morgan of crypto. - [Sam] Yep. - Does that bother you or not? - It doesnt bother me too much. - [Narrator] Bankman-Fried founded the quantitative trading firm Alameda Research in 2017. Two years later, he started FTX, an exchange platform for buying or selling cryptocurrencies. Right now, hes the majority owner of both firms. - That kinda aroused some s

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Some $323 million in crypto had been from FTXs international exchange and $90 million had been from its US exchange since it filed for bankruptcy on November 11, CEO John Ray said in a separate statement on Tuesday.
Since 2019, FTX has been a legit crypto exchange platform. It is used by millions of users around the world. It is regulated by the Hong Kong financial authority.
In November 2022, FTX announced a liquidity crisis and a high probability of collapse. FTX and FTX.US filed for bankruptcy on Nov. 11 amid liquidity concerns and allegations regarding misuse of customer funds. We cant recommend using FTX at this time.
The collapse of the crypto exchange FTX seemed to materialize out of nowhere: Within one week in November, FTX transformed from one of the most respected and trusted parts of the crypto industry to a bankrupt disgrace that lost more than $8 billion of its customers money, ing to authorities.
FTX is a now bankrupt company that was one of the worlds largest cryptocurrency exchanges. It enabled customers to trade digital currencies for other digital currencies or traditional money; it also had a native cryptocurrency known as FTT.
FTX in November 2022 faced a liquidity crisis and searched for bailout funds; rival exchange Binance considered buying portions of the company but quickly backed out. By Nov. 11, 2022, FTXs CEO stepped down and the company filed for bankruptcy.
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 was arrested on Dec.
ing to reporting from the New York Post and Forbes that analyzed court documents, Brady owned 1.1 million shares of FTX valued at roughly $45 million, while Bndchen owned 686,000 shares valued at about $25 million.
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 bottom line: crypto exchanges are not like stock exchanges, and CEXs are not safe. If the worst eventuates, whether it be an exchange collapse or cyber attack, you risk losing everything. All investments carry risks, and the unregulated crypto market carries more risk than most.

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