Undo payee in FTX

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Aug 6th, 2022
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How to undo payee in FTX

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lot of you wanted a breakdown of the FTX drama and Iamp;#39;m Vivian your Rich BFF and your favorite Wall Street girly and Iamp;#39;m gonna deliver tldr crypto CEO Sam bangman Freedamp;#39;s company FTX imploded hereamp;#39;s why the bad news started when coindesk released a report that basically was like uh spfamp;#39;s crypto trading firm Alameda research and his trading platform FTX may be more intermingled than they should be sus a few days later the CEO of binance FTX number one competitor decides to sell 530 million dollars worth of ftt a coin FTX invented and when users saw this they panicked and also sold about 6 billion in withdrawals happened over 72 hours which FTX couldnamp;#39;t fulfill but all seemed okay when FTX announced that binance was going to buy them effectively bailing them out but after a little research binance said FTX is a lemon and for that reason weamp;#39;re out no bailout meant FTX had to file for bankruptcy and SPF resigned as CEO and lost 94 of h

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While some could recover as much as 142% of what they held, the vast majority are likely to receive 118%. The specific pay day is estimated to be months away. While the gains are unusual and impressive, the biggest winners in the FTX affair are those who trade bankruptcy claims.
ICYMI: FTX, the crypto exchange that has become a byword for fraud and a black eye on the face of the entire digital asset industry, said that virtually all of the people who had money frozen on the platform will get their money back, plus interest. That is an extraordinary outcome.
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.
While FTX said it expects to collect enough cash to pay them 100% of what theyre owed, plus interest, theres a catch. Theyre not getting their crypto back. Instead, theyre getting US dollars based on what the accounts were worth when FTX went bust in November 2022.
FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors.
It began with the CoinDesk article and the leaked balance sheet. Binance initially announced it would sell all its FTT s because of the mishandled and blurred funds. The value of FTT dropped docHubly, prompting FTX customers to withdraw money from their accounts.
Almost all customers of collapsed cryptocurrency exchange FTX will get their money back and more, ing to a court filing. FTX estimates that it owes creditors around $11.2 billion.

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