Snip question in FTX

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Aug 6th, 2022
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How to snip question in FTX

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Judy: The fallout keeps growing for the crypto-currency industry after an unexpected bankruptcy. It involved one of the largest and most well known exchanges for buying and selling cryptocurrencies such as Bitcoin. As amna nawaz explains, there are now major questions about how this happened and what it may signal about the larger world of crypto finance. Amna: Judy, that crypto exchange , ftx, was founded by Sam bankman-fried in 2019. And it had more than a million users. The bankruptcy came just days after a published report raised questions about whether ftx had adequate capital. Investors pulled out in what amounted to a bank run on ftx. Now, ftxamp;#39;s downfall has renewed concerns about the safety and credibility of many cryptocurrencies. Their values have plunged as well. Roben farzad follows this as the host of the podcast, full disclosure and joins ne mow. ,Welcome back and thank you for joining us. This is complicated stuff. You have this crypto exchange, ftx, and it goes

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Kaplan found that FTX customers lost $8 billion, FTXs equity investors lost $1.7 billion, and that lenders to the Alameda Research hedge fund Bankman-Fried founded lost $1.3 billion. He imposed an $11 billion forfeiture order and authorized the government to repay victims with seized assets.
The collapse of FTX It began with the CoinDesk article and the leaked balance sheet. Binance initially announced it would sell all its FTT s because of the mishandled and blurred funds. The value of FTT dropped docHubly, prompting FTX customers to withdraw money from their accounts. FTX scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
The exact value customers will be repaid depends on the type of claim they filed. 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.
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.
Andrew Scurria: What FTX is projecting is that most customers, 98%, which are the retail customers, individual traders, they will get back what they had invested as of the day FTX filed for bankruptcy plus interest to compensate them for the time value of their money, the little less than two years that their crypto How FTX Found Billions to Repay Customers - WSJ Podcasts wsj.com podcasts the-journal how-ftx- wsj.com podcasts the-journal how-ftx-
ing to the prosecution, Bankman-Fried stole billions of dollars from the crypto exchanges customers out of sheer greed. One key issue was how much money FTXs customers lost. During the trial, the prosecution and its witnesses repeatedly in fact, 97 times put that number at $US8 billion ($12 billion).

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