Snip secret in FTX

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Aug 6th, 2022
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How to snip secret in FTX

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if you were building before 2017 if people in the space who knew you back then and know you now will vouch for you in this very trustless space that trust still matters a lot the good news is you can always earn back trust through your actions but I think weamp;#39;re going to be a lot more reluctant about how we give trust to new actors given what weamp;#39;ve seen not just from SBF but many other actors over the last couple of years all right guys Iamp;#39;m here today with the founder of the secret Foundation tour bear a project that privacy coin built on Cosmos correct yeah where I say privacy platform because weamp;#39;re like adapt blockchain but yeah weamp;#39;re a cosmos chain part of that interchange ecosystem for sure yeah now the reason why I have you on the show is um you guys have had some interactions with FTX obviously uh weamp;#39;ve been interviewing projects uh thereamp;#39;s been a bad track record for what uh you know FTX and Alameda had done to a lot of proj

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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-
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.
The U.S. federal government on Wednesday charged three people with a yearslong phone hacking conspiracy that culminated in the infamous theft of $400 million from FTX as Sam Bankman-Frieds crypto exchange was collapsing. FTX Hack Mystery Possibly Solved: U.S. Charges Trio With Theft coindesk.com policy 2024/02/01 ftx-h coindesk.com policy 2024/02/01 ftx-h
In the aftermath of FTXs fall 2022 collapse, media estimates of customer losses ranged from $8 billion (the worth of assets on FTXs balance sheet that were unaccounted for) to $16 billion (the amount of funds frozen) to $32 billion (the market value of FTX prior to its implosion).
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.
FTXs balance sheet was leaked and showed there was a lack of diversification and the two companies were tied too closely together. The balance sheet listed $9 billion in liabilities and $900 million in assets, with poorly labeled entries showing a negative $8 billion balance. FTX scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases.

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