Why did FTX COLLAPSE??

By Vasantha

November 16,2022

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FTX fell apart quickly, and there is still a lot to learn about its stunning collapse

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Did FTX collapse?

A run on deposits left his crypto exchange, FTX, with an $8 billion shortfall, forcing the firm to file for bankruptcy.

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What caused the FTX collapse?

If you cannot recover your cryptocurrency from a company holding it, the next step might be going to court.  FTX has filed for bankruptcy, which means anyone who can establish that the company owes them money will have to get in line to request repayment.

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What does FTX collapse mean for crypto?

Customers of bankrupt cryptocurrency exchange FTX Trading could have to wait years to get their money back, while many may never recover the funds, experts said.

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Will FTX users get their money back?

FTX.US says it has taken industry-standard security measures to protect assets and customer information on the platform.  Among those precautions is the option to have separate passwords for withdrawals.

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Can FTX be trusted?

Last week's liquidity crisis has left a $6 billion hole in the exchange's balance sheet, forcing the company to initiate Chapter 11 bankruptcy proceedings on November 11

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When did FTX crash?

FTX is a Bahamas based cryptocurrency exchange. FTX is incorporated in Antigua and Barbuda and headquartered in The Bahamas.

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Is FTX a Chinese company?

The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. 

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What's happening with FTX?

The biggest VC losers include Paradigm, a cryptocurrency focused investor, and Sequoia Capital. These firms lost $278 million and $214 million, respectively.

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Who lost the most money in FTX?