Rework detail in FTX

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Aug 6th, 2022
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How to rework detail in FTX

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this is the real deal this is a man who has been instrumental in making sure that this Market works right and the JP Morgan is not the analogy is not a facetious if these guys didnamp;#39;t know what was going on here then who can you really trust think about these names these are the proverbial smartest people in the room so many people in crypto feel duped and I I do as well is that I look back at all the interactions that I had with Sam and um you know I felt like he was a very bright and uh genuine and eager person perhaps a bit young you know heamp;#39;s um perhaps a bit uh reckless in certain moments but not not corrupt not um and again I hate to use that word because we donamp;#39;t know exactly what happened you know sometimes people they get in over their head itamp;#39;s unbelievably frustrating uh that you know we basically have a situation that looks like theyamp;#39;re an

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Customers who had one bitcoin deposited on FTX when it went bankrupt will receive about $16,800 in cash, instead of the roughly $60,000 that a bitcoin is worth today. Aggrieved FTX customers had urged the court not to allow votes to go forward on the bankruptcy plan they said was fatally flawed.
The announcement was a landmark in the attempt to track down the $8 billion in customer assets that disappeared when FTX imploded virtually overnight, setting off a crisis in the crypto industry. FTX Customers Poised to Recover All Funds Lost in Collapse nytimes.com ftx-bankruptcy-recovery nytimes.com ftx-bankruptcy-recovery
Almost all customers of collapsed cryptocurrency exchange FTX will get their money back and more, ing to a court filing. FTX estimates that it owes creditors around $11.2 billion, ing to a reorganization plan published late Tuesday.
Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. FTX, which filed for bankruptcy protection in November 2022, said in a court filing Tuesday that between $14.5 billion and $16.3 billion would be available for distribution.
FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion. The Collapse of FTX: What Went Wrong With the Crypto Exchange? investopedia.com what-went-wrong-with-f investopedia.com what-went-wrong-with-f
If the majority of creditors and the bankruptcy judge agree to the plan, checks would come within two months. By typical bankruptcy standards thats a great deal. Rarely do all creditors get paid in cash, and some can wait years to recoup only a fraction of their claims.
John J. Ray III (born January 1959) is an American attorney and CEO who specializes in recovering funds from failed corporations. He was appointed CEO of cryptocurrency exchange FTX in the aftermath of its November 2022 collapse. John J. Ray III - Wikipedia wikipedia.org wiki JohnJ.RayIII wikipedia.org wiki JohnJ.RayIII
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 on Nov. 9, 2022. FTX Crash: Timeline, Fallout and What Investors Should Know - NerdWallet nerdwallet.com article investing ftx-cra nerdwallet.com article investing ftx-cra

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