Strike out secret in FTX

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Aug 6th, 2022
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How to strike out secret in FTX

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welcome back to cryptos are us Iamp;#39;m George weamp;#39;re all George so more SBF drama not only do we have a leaked confession to a supposed friend but also SPF himself revealed a giant miscalculation on Twitter so letamp;#39;s talk about these things and letamp;#39;s talk about what the truth the truth actually was behind FTX alamamp;#39;s collapse so welcome welcome welcome guys youamp;#39;re in for a treat so letamp;#39;s start out with the leaked conversation okay early place thank you and yes letamp;#39;s get started so uh so I guess SPF you know had this relationship with this one reporter from Vox and they didnamp;#39;t talk for years but you know what SP SPF feeling real chatty recently decided to talk with this reporter once again now he thought this reporter was a friend okay someone he could confide with boy was he wrong because everything everything that he talked to uh everything he was he said to this person was red so so thatamp;#39;s another life lesson fo

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The revelations prompted concern across the cryptocurrency industry that FTX was overly leveraged with Alameda Research, relied on precarious financial accounting metrics, and faced associated financial management risks.
Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion. Scores of investors and customers pulled their funds out of FTX, forcing the exchange to become insolvent and declare bankruptcy. The Collapse of FTX: What Went Wrong With the Crypto Exchange? investopedia.com what-went-wrong-with-f investopedia.com what-went-wrong-with-f
The bankruptcy of FTX, a Bahamas-based cryptocurrency exchange, began in November 2022. The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Bankruptcy of FTX - Wikipedia wikipedia.org wiki BankruptcyofFTX wikipedia.org wiki BankruptcyofFTX
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.
For instance, Bankman-Fried directed co-conspirators to alter FTXs computer code to allow Alameda to withdraw effectively unlimited amounts of cryptocurrency from the exchange. Bankman-Fried also made false statements to financial institutions to conceal his misuse of customer dollar deposits. Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration of justice.gov opa samuel-bankman-fried-s justice.gov opa samuel-bankman-fried-s
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users.
Bankman-Fried was found to have stolen at least $8 billion from FTX customers. He was also ordered to pay $11 billion today.

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