Vary clause in FTX

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How to vary clause in FTX

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this video is brought to you by curiositystream hi welcome to another episode of Cold Fusion so last episode we ran through the complete history of the FTX situation to sum it all up a man named Sam bankman freed founded a crypto hedge fund and exchange worth 37 billion dollars it had investments from Big players such as BlackRock and endorsements from celebrities in the end it was all a bit of a Ponte scheme ran by Sam and his girlfriend and a bunch of their friends in the Bahamas investors and customers lost billions in the disaster last time we left off Sam was under police surveillance in the Bahamas and was still Tweeting about making it up to customers but today weamp;#39;ll cover some major updates since then from leaked messages to criminal investigations as well as some inside information on the full extent of the companyamp;#39;s mess called Fusion TV so after the dust had settled from the original shock of the bankruptcy and the wild story leading up to it ftxamp;

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Did FTX creditors get paid?

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.

What is the new FTX plan?

FTX Exchange was a leading centralized cryptocurrency exchange specializing in spot markets, derivatives, options, volatility, and leveraged products.

What happens to my assets in FTX?

FTX customers will get their money back and morebut the biggest winners are bankruptcy traders. Sam Bankman-Fried, the former CEO of FTX, is serving a 25-year sentence. In a rare outcome for bankruptcy, customers of the failed cryptocurrency exchange FTX will recover all of their moneyand then some.

Will FTX creditors be repaid in full?

All of FTXs creditors, except the government, will get 100% of their money back in cash plus interest, the bankrupt cryptocurrency exchanges estate said late Tuesday.

Will FTX funds be recovered?

Whats in FTXs New Plan? The new plan provides for 98% of all customers, including those holding claims of $50,000 or less, to receive up to 118% of their allowed claims within 60 days.

How will FTX pay back customers?

FTX has said its reorganization plan would give 98% of creditors 118% of their claims in cash within 60 days of court approval.

What is the expected payout for FTX?

Under the proposed plan, almost all creditors are expected to receive over 100% of their claims, with those claiming $50,000 or less receiving about 118%.

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