Shade clause in FTX

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Aug 6th, 2022
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How to shade clause in FTX

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one of the worldamp;#39;s youngest billionaires got his start using this simple trick as a 25 year old crypto Trader Sam Beckman freed noticed the price of Bitcoin was not the same on exchanges in different countries mainly because the demand for Bitcoin in places like Korea was higher than it was in the US at this time Sam made Millions arbitraging Bitcoin in different countries and converting his profits into USD it was these moves that laid the groundwork for FTX the crypto exchange Sam started and leads today that made him into one of the youngest billionaires around in the past few months crypto has lost trillions as an asset class and Samamp;#39;s been playing cleito heamp;#39;s convinced that crypto will rebound and believes itamp;#39;s tied to the stock market in many ways thatamp;#39;s why he spent hundreds of millions bailing out other crypto companies and while he may or may not profit doing so itamp;#39;s wild how the guy holding an entire industry on his back is only

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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.
What about FTX 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.
While some could recover as much as 142% of what they held, the vast majority are likely to receive 118%. The specific pay day is estimated to be months away. While the gains are unusual and impressive, the biggest winners in the FTX affair are those who trade bankruptcy claims.
0:00 3:52 Still has to be approved by the bankruptcy court here. Its worth noting that of course when.MoreStill has to be approved by the bankruptcy court here. Its worth noting that of course when.
In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX created a wave of bankruptcies throughout the industry. In 2023, BlockFi, Genesis, and 3AC (a hedge fund), all of whom had money in or loaned to FTX, failed.
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.

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