Undo evidence in FTX

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Aug 6th, 2022
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Utilize this walkthrough to undo evidence in FTX quickly

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How to undo evidence in FTX

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This is Sam, the founder of FTX a crypto exchange and Alameda Research a Crypto Hedge fund - run by Caroline Ellison a 28-year-old Harry Potter fan. All of that stuff is now gone. FTX had their own crypto which was essentially a Ponzi scheme. Sam went on a Bloomberg podcast and described it as such. He used it as collateral to borrow billions to trade crypto. He tried to build a Crypto Empire out of failing firms leading Jim Cramer to call him the new JP Morgan, turned out that he was instead the Gen Y Bernie Madoff. Sams schemes worked for a while, but a different but not much different guy called CZ - who hated Sam engineered a bank run, by sowing doubt on Twitter. SBF couldnt pay customers back and now FTX has gone bust. Sam was really just a few billion dollars short. Turned out that Hermoine had no magical powers and blew a lot of it trading. 40 million went on political donations, 20 million on superbowl ads, even more on influencer marketing. Now p

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FTX investors filed a class action lawsuit against FTX and its celebrity endorsers on Nov. 15, 2022. The civil suit claimed FTX used false representation and deceptive conduct. The lawsuit also accused FTX of using a Ponzi scheme to misuse funds and move customer money between entities. FTX scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
Using the Customer Claims Portal Step 1: Login. Step 2: Email Verification. Step 3: Providing Know Your Customer Information. Step 4: Review Account Balances. Step 5: View Your Proof of Claim Status. Step 6: Voting. Step 7: Distributions - Tax Requirements. Step 8: Distributions - Payout Options.
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.
Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
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
On Oct. 12, prosecutors played portions of a secretly made recording of a November 2022 all-hands Alameda employee meeting during which Ellison revealed the firm had been siphoning billions of dollars in FTX customer funds and was on the verge of collapse. Key moments from trial of former FTX CEO Sam Bankman-Fried go.com story go.com story
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.
FTX: new technology, old-fashioned embezzlement 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. Old-fashioned embezzlement: where did all of FTXs money go? | FTX theguardian.com business mar where- theguardian.com business mar where-
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.
$16 billion Since filing for bankruptcy, FTX has recovered up to $16 billion to repay customers, including about $12 billion in cash, and it says it will repay all customer claims in full, with interest. FTX seeks creditor votes on bankruptcy wind-down payments Reuters legal ftx-seeks-creditor-vot Reuters legal ftx-seeks-creditor-vot

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