Snip clause in FTX

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Aug 6th, 2022
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How to snip clause in FTX

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he was never gonna buy donamp;#39;t you think about this how bad the situation at FTX must be he didnamp;#39;t even spend 24 hours doing due diligence 15 hours he was like Iamp;#39;m out what does that tell you the entire compliance team legal compliance team at FDX players gone they left the situation at FTX is going to get so much worse when you guys start understanding how unchecked SPF was able to run

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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. FTX seeks creditor votes on bankruptcy wind-down payments Reuters legal ftx-seeks-creditor-vote Reuters legal ftx-seeks-creditor-vote
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. FTX customers will get their money back and morebut the Fortune crypto 2024/05/08 ftx-custome Fortune crypto 2024/05/08 ftx-custome
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. Collapsed FTX exchange plans to repay investors - The Conversation The Conversation collapsed-ftx-exchange-pla The Conversation collapsed-ftx-exchange-pla
Whats in FTXs New Plan? The new plan provides for 98% of all customers, including those holding claims of $50,000 or less, to receive up to 118% of their allowed claims within 60 days.
The company has recovered some $8 billion in assets, and all of FTXs creditors will receive cash payments equal to 118 percent of the assets they had kept in the exchange, the companys bankruptcy lawyers said, ing to the Times. FTX Customers Are Getting All Their Money Back, Plus Interest Robb Report lifestyle finance ftx-cryptoc Robb Report lifestyle finance ftx-cryptoc
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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