Tack construction in FTX

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How to Tack construction in FTX

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- Breaking news, Crypto-Play turned out to be a big scam. In other news, the sky is blue and those clowns in Congress did it again. What a bunch of clowns. - (chuckles) Hows he keep up with the news like that? - Last week, FTX, the second largest cryptocurrency exchange in the world filed for bankruptcy. - Its FTX. Is a safe and easy way to get into crypto. - Eh, I dont think so. - 2022 was a bad year for cryptocurrency, but even in this volatile market, FTXs sudden implosion took people by surprise. Many saw FTX as the squeaky clean white knight in the crypto world, but with FTX in bankruptcy, tens of billions of dollars, AKA real money, missing and giant holes in the balance sheet, theres going to be hell to pay, which is why lawyers are the real white knights. So what did FTX do wrong? What laws might they have broken and who is going to jail? Or maybe it would be easier to talk about whos not going to jail. But hold on, folks. We have a lot of ground to cover, because there

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How did FTX go broke?

How did FTX fail? FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Sam Bankman-Fried admitted that the company didnt have sufficient assets in reserve to meet customer demand.

Is FTX safer than Coinbase?

Coinbase: Security. Both FTX.US and Coinbase prioritize security and have excellent track records to date. Of the two, Coinbase has been around much longer, but theyre both safe places to buy and sell cryptocurrency.

Is Coinbase better than FTX?

Coinbase has less overwhelming features for beginners and newcomers, while FTX offers more advanced products, such as crypto futures and an NFT marketplace, and better fees. Coinbase is a very well-established and one of the oldest and most respected crypto exchanges and the number two in daily trading volume.

Why is FTX so cheap?

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.

Why cant Americans use FTX?

FTX.com was an offshore exchange not regulated by the SEC, Armstrong wrote. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore.

Can FTX get ?

Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.

Is FTX Exchange safe?

FTX.US has high security standards, with plenty of features to keep its customers accounts and assets safe. Here are some of the most notable protections FTX.US offers: It requires setting up two-factor authentication (2FA).

How trusted is FTX?

Since 2019, FTX has been a legit crypto exchange platform. It is used by millions of users around the world. It is regulated by the Hong Kong financial authority.

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