How much money did FTX lost? (2024)

How much money did FTX lost?

The crypto exchange FTX went bust last year after executives spent billions in customer funds they had promised to safeguard. The tab was $7.7 billion, a Wall Street Journal analysis of company disclosures and legal filings shows.

How much actual money did FTX lose?

FTX and FTX US had an estimated $8.7 billion combined shortfall at the time the crypto firm filed for bankruptcy.

How much money was stolen in FTX?

The thief first struck at 9:22pm on the evening of November 11th, moving 9,500 ETH (then worth $15.5 million) from a wallet belonging to FTX, to a new wallet. Over the next few hours, hundreds of other cryptoassets were taken from the exchange's wallets, in transactions eventually totalling $477 million.

How much is FTX worth right now?

FTX Token Price Summaries

FTX Token's price today is US$2.37, with a 24-hour trading volume of $52.02 M.

How much will FTX customers get?

For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022. In other words, they're not seeing any of the upside of FTX's investments or being given virtual coins that would allow them to cash out at higher valuations.

How much of FTX money is recovered?

Ray estimated in August that FTX had recovered $7 billion, though it was unclear how much of that money would make its way back to creditors, given the number of outstanding claims.

Did FTX customers get money back?

FTX has abandoned efforts to restart its crypto exchange, instead opting to liquidate all assets and return funds to customers, a company attorney said on Wednesday.

Who lost the most money at FTX?

Tom Brady is the most famous face to promote and invest in FTX — and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, according to Bloomberg.

Who lost a lot of money on FTX?

A jury took less than five hours to convict former FTX CEO Sam Bankman-Fried of fraud and money laundering. Last November, Jake Thacker discovered more than $200,000 of his crypto and cash had gone missing. He'd been counting on it to pay off debts, and to pay taxes on stock he'd sold.

How many billions did FTX steal?

MANHATTAN (CN) — In closing arguments on Wednesday, federal prosecutors urged jurors to convict Sam Bankman-Fried for plundering more than $8 billion from FTX customer funds in one of the largest financial frauds in U.S. history.

What does FTX stand for?

FTX is an abbreviation of "Futures Exchange". Changpeng Zhao of Binance purchased a 20% stake in FTX for approximately $100 million, six months after Bankman-Fried and Wang started the firm. In August 2020, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million.

What is token price?

Token Price means the price in fiat currency or cryptocurrency, as the case may be, at which the Tokens will be sold, as determined by the Company; Sample 1Sample 2.

How much is the TFX coin worth?

The price of TFX in TFX-USDT pair is $0.000013 and is ▼ 0.0% against US Dollar for the last 24h. The pair has $0.00 24h trading volume with $13.63 liquidity available at the moment. The trading of TFX-USDT started at 454 days ago. The last trade was seen less than 23 days ago.

How long will Sam Bankman be jailed for?

Prosecutors recommended a 40- to 50-year prison sentence for disgraced cryptocurrency executive Sam Bankman-Fried on Friday, months after the FTX founder was convicted of one of the largest acts of fraud in American history.

How many total FTX customers are there?

According to FTX statistics, a total of 1.2 million users are registered on FTX's platforms, but the company hasn't updated this number since the start of 2021.

Is FTX still in business today?

With a hole in its balance sheet that left 9 million customers facing billions in potential losses, FTX filed for bankruptcy protection in November 2022.

How much does FTX owe customers?

Key Takeaways. A new report from the FTX debtors team indicates the failed crypto exchange owes customers $8.7 billion worth of assets. The vast majority of misappropriated assets, roughly $6.4 billion, are denominated in either fiat currency or stablecoins.

How much does FTX owe in total?

FTX, which owes $3.1 billion to its 50 largest creditors and at least $5 billion more to its nine million customers and smaller creditors, filed for bankruptcy November 11 between FTX and Bankman-Fried's hedge fund Alameda Research.

Is FTX in liquidation?

FTX Digital was placed into Provisional Liquidation following the lodgement of a Winding Up Petition by the SCB on 10 November 2022, just prior to the wider bankruptcy of the FTX Group in the US on 11 November 2022.

How old is SBF?

What is in crypto?

Cryptocurrency (or “crypto”) is a digital currency, such as Bitcoin, that is used as an alternative payment method or speculative investment. Cryptocurrencies get their name from the cryptographic techniques that let people spend them securely without the need for a central government or bank.

Where did all the FTX money go?

In particular, FTX transferred hundreds of millions of dollars worth of cryptocurrency first to Alameda and then to the trading firm Genesis, which had served as a major lender to many crypto companies.

How did FTX lose everyone's money?

A surge of customer withdrawals, due to concerns over this questionable financial valuation practice and unusually close relationship with Alameda, pushed FTX and Alameda into bankruptcy and shook the volatile crypto market, which lost billions and fell below a $1 trillion valuation.

How much did Brady invest into FTX?

$30M as part of his endorsem*nt agreement before it "imploded last fall," a deal that consisted “almost entirely of FTX stock," according to Griffith & Yaffe-Bellany of the N.Y. TIMES.

Who made money on FTX?

Bankman-Fried became one of the wealthiest cryptocurrency executives before a solvency crisis at FTX led to sudden company bankruptcy and his resignation as CEO. Bankman-Fried once made deals to rescue other flailing cryptocurrency businesses before seeing his empire crumble in a few days in November 2022.