Rub out information in FTX

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Aug 6th, 2022
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How to rub out information in FTX

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hereamp;#39;s FTX downfall broken down to 60 seconds this is signed bankman free heamp;#39;s the founder of FDX who also owns a hedge fund Alameda research remember this for later he then created a for the exchange called ftt then youamp;#39;d borrow billions of dollars which you couldnamp;#39;t pay back he then used all this money to buy off dying companies like Voyager and block five users were able to buy Bitcoin and other cryptocurrencies on the exchange but because funds are being used elsewhere in FDX this was technically an IOU they gave to their customers so if everyone decided to withdraw their funds at once they wouldnamp;#39;t be able to pay them back after some suspicious Bank sheets came out about Alameda research about it being totally backed by ftt s Finance decided to liquidate all its ftt s this caused a bank run and FTS didnamp;#39;t have enough to pay back all their customers so where did all this money go 10 billion apparently went to his hedge fund and 66 mil

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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 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. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors.
How is FTX able to repay its customers? FTX is repaying its customers through the liquidation of its assets, which have appreciated docHubly in value, and through the positive effects of a bullish cryptocurrency market. 3.
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.
FTX has been able to monetise an extraordinarily diverse collection of assets, most of which were investments made by FTX or its investment company Alameda Research, it said. The vast majority of creditors - 98% - will get 118% of the amount due and receive it within 60 days of FTXs proposed plan coming into effect.
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.
What Happened to FTX? 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.

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