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How to revise street in FTX

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so the story behind FTX is one of the craziest involved hereamp;#39;s what you need to know this all starts back with Alameda research who is also partly owned by Sam bankman freed ing to a source for the Wall Street Journal Alameda needed Capital earlier this year so FTX lent out a large sum of customer funds to them now the problem is that ftxamp;#39;s term of service stated they would never do anything like this and to add to that Alameda held a large amount of ftt which is a native of FTX and made the two firms way too interconnected so all of this began when ftxamp;#39;s balance sheet was published in a coindesk article and CZ of binance decided to sell a large amount of the ftt s after offering them a deal CZ and binance realized just how bad their finances really were so they backed out of their deal this left scam bankrupt fraud with no other choice but to file for bankruptcy

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How much money will be recovered from FTX?

FTX customers are set to recover all funds lost, plus interest. Bankruptcy lawyers say they have collected $14.5 billion to $16.3 billion and are ready to distribute it to defrauded customers. Sorry, a summary is not available for this article at this time. Please try again later.

Did FTX customers get their money back?

FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. Nearly all FTX customers are getting their money back: What to know Los Angeles Times business story ftx-crypto-m Los Angeles Times business story ftx-crypto-m

Will people get their money back from FTX?

FTX says it will return money to most of its customers : NPR. FTX says it will return money to most of its customers FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.

Where did the 8 billion from FTX go?

At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases. Old-fashioned embezzlement: where did all of FTXs money go? | FTX The Guardian business mar where-di The Guardian business mar where-di

How will FTX repay customers?

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.

Have FTX customers been repaid?

FTX said in recent court filings that 98% of its customers will be able to receive full repayment within 60 days of a bankruptcy court approval of its wind-down plan. The faster payment option will cover all customers who are owed up to $50,000.

Where did FTX go wrong?

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. FTX scam explained: Everything you need to know - TechTarget TechTarget whatis feature FTX-sca TechTarget whatis feature FTX-sca

Who lost money from FTX?

Tom Brady is the most famous face to promote and invest in FTX and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, ing to Bloomberg. Who Lost Money in FTX? Tom Brady, Kevin OLeary and More Entrepreneur business-news who-lost Entrepreneur business-news who-lost

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