According to reporting by JustTheNews, this is a stunning thing to come up with, even as the company has positioned itself as needing more funds to pay out all of its investors and stakeholders. It seems to be the company’s advantage to suddenly produce these kinds of funds.
This sum includes cryptocurrencies, cash, and other tangible assets currently held by the Securities Commission of the Bahamas. Yahoo! News says that it is worth approximately $425 million.
Andrew Dietderich, a lawyer advising FTX, responded to some allegations against the company that stated FTX hedged some of its positions by using Alameda Research, a sister firm of the company, as a trading partner:
WATCH: ESPN HOST- DEMOCRAT STRATEGY IS NOT WORKING
January 14, 2023
“We know what Alameda did with the money,” he stated and followed that up with: “It bought planes, houses, threw parties, made political donations, made personal loans to its founders. It sponsored the FTX Arena in Miami, a Formula One team, the League of Legends, Coachella, and many other businesses, events, and personalities. It gambled on cryptocurrency investments, often unsuccessfully.”
WATCH: 2004 SNL SKETCH: "DONALD TRUMP’S HOUSE OF WINGS”
The judge, in this case, agreed to seal the names of FTX clients for another three months. The total number of customers of the FTX exchange is estimated to be approximately 9 million.
January 14, 2023
That makes for a significant number of people currently observing the bankruptcy court proceedings to see what they ultimately come up with as far as who will ultimately be responsible for the alleged crimes that occurred here. Many find the company very lucky for discovering the said assets when they did. Everyone's eagerly waiting to see what happens next.
Discover alternative ideas that will make you think
Engage in mind bending debate
Earn points, rise in rank, have fun
