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On Saturday, new information regarding the insolvency of the cryptocurrency exchange FTX came to light.
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Despite the fact that the company's peers and partners had cut ties with it and that sources had said that at least $1 billion in lost customer assets were at the exchange. 'd left.
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The most high-profile fall in the industry, Sam Bankman-Fried, the inventor of FTX, is said to have filed for bankruptcy court protection from creditors on November 2.
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This is where the story that shocked the cryptocurrency community supposedly started. resigned.
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On Friday, FTX tweeted that it has voluntarily filed for Chapter 11 bankruptcy in Delaware together with Alameda Research,subsidiaries.
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In a follow-up tweet, FTX said that subsidiaries LedgerX LLC, FTX Digital Markets, FTX Australia Pte Ltd, FTX Capital Markets
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In the Chapter 11 papers, Embed Financial Technologies and Embed Clearing were not mentioned.
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According to those with knowledge of the situation, FTX has lost at least $1 billion in customer funds.
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They claimed that Bankman-Fried shifted $10 billion in customer funds covertly from FTX to Alameda.
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He said that a sizeable portion of it had since disappeared, with estimates ranging from $1 billion to $2 billion. One source put the lost money's value at roughly $1.7 billion.
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