Tack fact in FTX

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Aug 6th, 2022
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How to tack fact in FTX

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all of this is fraud from the very beginning if you really start looking into Dan Friedberg this is the guy to look at this with the general counsel of FTX literally he is caught on a recording discussing the counterfeiting of s nobody knew that this was the guy that was you know the general counsel for Sam bingman freed this show game was set up so early on that it had the back end to where Alameda could go in and borrow customer funds whenever they wanted to it only became a problem when prices started going down and people they started getting liquidated in certain places and could not replace the assets this has been a scam from day one SPF never once had any good intentions and I will there were people say oh they feel sorry for him no no he showed no mercy to the projects that they set out to destroy that itamp;#39;s in spent years and years building Tech years and years getting things ready for them to have a successful launch and he destroyed them and shorted them to zero and

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FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion. 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
Bankman-Fried was found to have stolen at least $8 billion from FTX customers. He was also ordered to pay $11 billion today.
FTX customers are set to recover all funds lost, plus interest. Bankruptcy lawyers say they have collected $14.5 billion to $16.3 billion and are ready to distribute it to defrauded customers. Sorry, a summary is not available for this article at this time. Please try again later.
FTX now says that 98% of its creditors, including individual investors who had US$50,000 or less with FTX, will receive the funds they lost. Payments will be made in cash within 60 days of a reorganisation plan going into effect. However, this plan still needs to be approved by a US bankruptcy court and by creditors.
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 government relied heavily on the testimony of three former members of Bankman-Frieds inner circle, his top executives including his former girlfriend, Caroline Ellison, to explain how Bankman-Fried used Alameda Research to siphon billions of dollars from customer accounts at FTX. FTX founder Sam-Bankman-Fried convicted of defrauding - PBS pbs.org newshour economy ftx-found pbs.org newshour economy ftx-found
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.
FTX distinguishes itself from other cryptocurrency exchanges by introducing novel trading tools such as ized stocks and leveraged s. These qualities made it simple for traders to obtain exposure to traditional assets and engage in speculative trading methods. The FTX Full Story: All You Need to Know - Finance Magnates financemagnates.com cryptocurrency th financemagnates.com cryptocurrency th
FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion.
FTX said in recent court filings that 98% of its customers will be able to receive full repayment within 60 days of a bankruptcy court approval of its wind-down plan. The faster payment option will cover all customers who are owed up to $50,000.

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