Work in answer in FTX

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Aug 6th, 2022
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How to work in answer in FTX

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so i want to uh take a second for you to explain exactly how this works because i think thereamp;#39;s a lot of people who listen to this who uh theyamp;#39;ve heard of yield farming like the terminology they have how it works so kind of just walk us through exactly whatamp;#39;s happening when people are doing this yeah uh so first iamp;#39;ll just say mechanically hereamp;#39;s thereamp;#39;s a lot of different versions of it um iamp;#39;m just gonna like talk about sort of a really simplified version of it and you can put as many knobs on it as you want but at its heart what is it you build a product and uh itamp;#39;s a product people can use um you know maybe itamp;#39;s a borrow lending protocol maybe itamp;#39;s a dex um whatever uh letamp;#39;s for now say that itamp;#39;s a borrow lending protocol thatamp;#39;s where this all started um and what you say is all right i want a lot of people to be borrowing and lending for my protocol right and what do i mean by borr

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$8 billion NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall. Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud Reuters technology sam-bankman-fr Reuters technology sam-bankman-fr
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.
The Bahamas-based company received hefty backing from well-known investment firms such as Sequoia Capital, SoftBank and others; it was valued at $32 billion in early 2022 before it imploded in November. Bankmans net worth, once estimated by Bloomberg to be as high as $26 billion, is now near zero. As trial looms, Sam Bankman-Frieds own words may pose his biggest risk The Washington Post 2023/10/01 sam-ba The Washington Post 2023/10/01 sam-ba
The FTX scandal was allowed to happen because its young and charismatic founder exploited the flashy new cryptocurrency industry to mask what was essentially old-fashioned embezzlement, in which he stole billions of dollars from investors.
FTX founder Sam Bankman-Fried testified Friday that his largest mistake was not having a dedicated risk management team and a chief risk manager at FTX. The result was no oversight for the bankrupt crypto exchange.
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 on Nov. 9, 2022.
FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals. Binance announced it would buy FTX to prevent a larger market crash, but quickly bailed out of the deal as more news reports of mishandled customer funds surfaced. FTX scam explained: Everything you need to know - TechTarget TechTarget whatis feature FTX-sca TechTarget whatis feature FTX-sca
Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. Nearly all FTX customers are getting their money back: What to know Los Angeles Times business story ftx-crypto- Los Angeles Times business story ftx-crypto-

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