The exchange, formerly one of the world's largest, sought bankruptcy protection last week, and its CEO and founder resigned. Hours later, the trading firm said there had been “unauthorized access” and that funds had disappeared. Analysts say hundreds of millions of dollars may have vanished.
FTX had valued its assets between $10 billion to $50 billion, and listed more than 130 affiliated companies around the world, according to its bankruptcy filing. The week’s developments marked a shocking turn of events for Bankman-Fried, who was hailed as somewhat of a savior earlier this year when he helped shore up a number of cryptocurrency companies that ran into financial trouble. He was recently estimated to be worth $23 billion and has been a prominent political donor to Democrats.FTX confirmed Saturday there had been unauthorized access to its accounts, hours after the company filed for Chapter 11 bankruptcy protection.
Exactly how much money is involved is unclear, but analytics firm Elliptic estimated Saturday that $477 million was missing from the exchange. FTX's new CEO John Ray III said it was switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets.People who own bitcoin should be OK if they keep them off exchanges such as FTX that effectively work as a “crypto-casino gambling website,” said Cory Klippsten, the CEO of financial services firm Swan Bitcoin.
Money laundering....thats what's happening
Crypto is a circus 🤡 NOT A REAL INVESTMENT. So enjoyable watched it crash 🔥
Hey Tom and Giselle, you in?😜
Ask the teachers pension fund if they can re coup $95mil they invested
The owner lend out the ppl dem deposit
Biden gives money to Ukraine ..Ukraine buys equity of FTX ..ftx donates the money to dems for the election ..Biden gets the money back as election campaigns funds . Sbf or some one his company supposedly hacks what ever is left.Ftx deletes all possible record .sbf runs to ARG.
Why did I put all my money in Cum Rocket?!?🐒
Ev-er-y-thing.
Ask Elon!
Nothing…! Just crypto mambo jumbo…sounds like a climate change bs
Another fake money pyramid scheme failed…
Crypto is scams biggest scams
They got scammed
The biggest loser with the FTX bankruptcy is the Ontario Teachers’ Pension Plan
Money going to Ukraine....Funneled to FTX and back to the DNC.... Not hard to trace everything.
What’s happening is that political leaders like the democrats in the US are using ukraine to launder taxpayer money so that it ends up back into the pocket of these corrupt politicians
Are the Democrats angry they lost a huge source of funding?
Pro tip: cp24 is biased media and doesn't know jack about FTX or anything else. This is a PSA: Pepé Service Announcement
Goy getting raped by Jews
Democrats are losing alot of donation money… their laundering for Ukraine is messed now too
Just crooks getting caught! Kinda like the Covid lies 😆😆😆
So how many lost money ?
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