Strike formula in FTX smoothly

Aug 6th, 2022
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How to Strike formula in FTX

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new this morning ftx announcing its making a strategic investment in trading platform iex its part of the deal which is expected to close next month ftx will help iax on board digital assets to its trading platform and the two companies will work together to change the u.s market structure around digital asset securities join us right now first on cbc nbc is ftx founder and ceo sam bankman freed also iex co-founder and ceo brad katsuyuma its great to see both of you um sam how did this deal come together what are you trying to do here yeah i mean you know really excited to work with brad and the iax team here i think that you know the the core things that that sort of precipitated this work you know we have a lot of expertise with you know cryptocurrency um you know exchanging they have a lot of experience with securities exchanging and you know its a really good opportunity for us to work together and work with the sec and other regulators to build up pathways for a digital asset

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Imperiled companies with docHub exposure to FTX include Genesis Trading, Galaxy Digital and Voyager Digital. Genesis Trading has lost access to $175 million held on the FTX platform, and frozen funds have a major contagion effect for customers or business partners.
What Did FTX Do? FTX was a cryptocurrency exchange that promotes the liquidity and transacting of coins and s. FTX allowed users to connect their wallets, place trades, exchange digital currencies, enter into derivative contracts, or buy and sell NFTs.
While Bitcoin has a history of bouncing back after crashes, recoveries have proven to take months or even years. And although Bitcoin officially recovered all of its post-FTX crash losses by mid-January 2023, it remains a highly volatile asset, and the fallout from the FTX crash is ongoing.
MOVE contracts are a volatility derivative offered by FTX. Each MOVE contract expires to the absolute value of the amount the underlying asset (BTC) has moved on the traded timeframe. If BTC opens the trading day at $35,000 and closes the day at $36,500, the daily BTC MOVE contract will expire at a value of $1,500.
What happened to FTX? FTX and FTX.US crashed due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it including Ethereum and Bitcoin, which docHubed a two-year low as of Nov. 9.
Tom Brady is the most famous face to promote and invest in FTX and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, ing to Bloomberg.
The collapse of the crypto exchange FTX seemed to materialize out of nowhere: Within one week in November, FTX transformed from one of the most respected and trusted parts of the crypto industry to a bankrupt disgrace that lost more than $8 billion of its customers money, ing to authorities.
NBC News breaks down what happened and why it matters. Its a collapse that some have called cryptos Lehman moment. The bankruptcy of the crypto giant FTX and the resignation of its founder, Sam Bankman-Fried, has left customers in limbo and investors writing off what once looked like the next big thing in tech.

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