FTXScandal
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"Crypto's Crown Prince... To Convict: The Rise, Deceit, Exposure, and Fall of Sam Bankman-Fried
Once celebrated as the "Next Warren Buffett" of crypto,
Sam Bankman-Fried (SBF) was seen as the savior of Web3.
His exchange, FTX, was valued at a staggering $32 Billion.
He was the poster boy of crypto revolution.
But behind the glittering facade, a ticking bomb was hiding...
The Strategy of Deception:
SBF promised users their funds were "safely stored".
Behind the scenes, billions were secretly funneled into his private hedge fund, Alameda Research.
"Guaranteed returns" promises and massive political lobbying painted a picture of invincibility.
The Reality:
Customers' money was used for high-risk gambling.
Hidden leverage, fake valuations, and internal loans were rampant.
The Exposure:
In early November 2022, a leaked balance sheet from Alameda Research surfaced, exposing their financial black hole.
CoinDesk, a major crypto news outlet, published the report.
Panic gripped the market.
CZ (Binance CEO) publicly announced selling all FTX's native token holdings ($FTT) citing "risk management".
This triggered a chain reaction —
massive withdrawals, liquidity crunch, and the ultimate downfall!
The Collapse:
In just 72 hours, FTX filed for bankruptcy.
Billions vanished.
Dreams shattered.
Crypto's biggest betrayal unfolded live.
The Judgment:
In March 2024, Sam Bankman-Fried was sentenced to 25 years in prison for fraud, conspiracy, and money laundering.
From the king of crypto to a convicted criminal —
his fall shook the entire financial world.
Industry Giants Reacted:
Brian Armstrong (Coinbase CEO):
"Trust must be earned — not bought with marketing dollars."
Elon Musk:
"If something sounds too good to be true... it probably is."
CZ Binance:
"Transparency > Hype. Always."
Key Takeaway:
Always verify, don't just trust.
Flashy marketing is not proof of solvency.
In crypto, safety lies in education and self-custody.
#StaySafeInCrypto
#CryptoThriller
#FTXScandal
#Cryptoeducation🔥
#BinanceSquare
#DeFiAwareness
Once celebrated as the "Next Warren Buffett" of crypto,
Sam Bankman-Fried (SBF) was seen as the savior of Web3.
His exchange, FTX, was valued at a staggering $32 Billion.
He was the poster boy of crypto revolution.
But behind the glittering facade, a ticking bomb was hiding...
The Strategy of Deception:
SBF promised users their funds were "safely stored".
Behind the scenes, billions were secretly funneled into his private hedge fund, Alameda Research.
"Guaranteed returns" promises and massive political lobbying painted a picture of invincibility.
The Reality:
Customers' money was used for high-risk gambling.
Hidden leverage, fake valuations, and internal loans were rampant.
The Exposure:
In early November 2022, a leaked balance sheet from Alameda Research surfaced, exposing their financial black hole.
CoinDesk, a major crypto news outlet, published the report.
Panic gripped the market.
CZ (Binance CEO) publicly announced selling all FTX's native token holdings ($FTT) citing "risk management".
This triggered a chain reaction —
massive withdrawals, liquidity crunch, and the ultimate downfall!
The Collapse:
In just 72 hours, FTX filed for bankruptcy.
Billions vanished.
Dreams shattered.
Crypto's biggest betrayal unfolded live.
The Judgment:
In March 2024, Sam Bankman-Fried was sentenced to 25 years in prison for fraud, conspiracy, and money laundering.
From the king of crypto to a convicted criminal —
his fall shook the entire financial world.
Industry Giants Reacted:
Brian Armstrong (Coinbase CEO):
"Trust must be earned — not bought with marketing dollars."
Elon Musk:
"If something sounds too good to be true... it probably is."
CZ Binance:
"Transparency > Hype. Always."
Key Takeaway:
Always verify, don't just trust.
Flashy marketing is not proof of solvency.
In crypto, safety lies in education and self-custody.
#StaySafeInCrypto
#CryptoThriller
#FTXScandal
#Cryptoeducation🔥
#BinanceSquare
#DeFiAwareness
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💸 #FTXrepayment : Payouts begin! 💸
🚨 Attention, former FTX users! The long-awaited refund has begun.
🔎 Key details:
✅ Key date: February 18, 2025.
✅ First phase: $1.2B distributed to creditors with less than $50K in claims.
✅ Next rounds: April 11 and May 30, 2025.
✅ Estimated total: Between $12.3B and $15B in recovered assets.
✅ Some will receive up to 118% of their claimed amount, with 9% interest.
✅ Distribution platforms: BitGo, Kraken, and more.
📉 How does it impact the market?
🤔 Would you trust a centralized exchange again after this scandal?
Leave us your opinion.👇
🔗 #CryptoRecovery #FTXScandal #Binance
#FTX
🚨 Attention, former FTX users! The long-awaited refund has begun.
🔎 Key details:
✅ Key date: February 18, 2025.
✅ First phase: $1.2B distributed to creditors with less than $50K in claims.
✅ Next rounds: April 11 and May 30, 2025.
✅ Estimated total: Between $12.3B and $15B in recovered assets.
✅ Some will receive up to 118% of their claimed amount, with 9% interest.
✅ Distribution platforms: BitGo, Kraken, and more.
📉 How does it impact the market?
🤔 Would you trust a centralized exchange again after this scandal?
Leave us your opinion.👇
🔗 #CryptoRecovery #FTXScandal #Binance
#FTX
🚨 FTX Repayments Set for May 30 – But There’s a Catch! 💸💥
FTX creditors, mark your calendars—the collapsed exchange is set to begin major repayments on May 30. However, there’s a big downside:
🔹 BTC claims are worth only 20% of market price! 😱
🔹 Many creditors will receive far less than expected due to outdated valuation methods.
🔹 This raises questions about fair compensation and the handling of crypto bankruptcies.
📉 Are creditors getting a raw deal, or is this the best possible outcome? Let’s discuss! 👇
#FTXbankruptcy #BitcoinETFs #CryptoRepayments #FTXScandal #TodaysCryptoNews
FTX creditors, mark your calendars—the collapsed exchange is set to begin major repayments on May 30. However, there’s a big downside:
🔹 BTC claims are worth only 20% of market price! 😱
🔹 Many creditors will receive far less than expected due to outdated valuation methods.
🔹 This raises questions about fair compensation and the handling of crypto bankruptcies.
📉 Are creditors getting a raw deal, or is this the best possible outcome? Let’s discuss! 👇
#FTXbankruptcy #BitcoinETFs #CryptoRepayments #FTXScandal #TodaysCryptoNews
FTX Creditors Finally Getting Paid!
Big news, FTX users are finally seeing refunds hit their accounts! 🎉💸 According to Reddit reports, creditors with claims under $50K are getting their money back via Kraken.
$BTC
💰 Where’s the Money Going?
🔹 So far, $800M out of a $1.2B payout has been sent ✅
🔹 162,000 accounts paid—but that’s just 35% of the 460,000 claims 🤯
🔹 Split 50/50: Half goes to OG FTX users, half to debt buyers who bought claims at a discount 💸🔄
💳 How’s the Payment Happening?
🔹 Funds are moving through BitGo & Kraken 💼
🔹 Expect 1-3 business days for transfers ⏳
🔹 FTX set aside $7B for this phase, aiming for a $17B total refund 💰🚀
📈 FTX Recovery Rates
✅ Claims add up to $11.75B
✅ 100-142% recovery for secured/customer claims 💎
✅ 123-138% overall recovery rates—way higher than expected! 🔥
👀 Market Impact?
🔹 Some creditors cashing out ASAP 🏃💨
🔹 Others holding or reinvesting—could shake up the market! 📉📈
🔹 FTT token on watch as funds move 🔍👀
⚠️ Lesson Learned? Self-custody is king! 👑🔐
Crypto advocate Mr. Purple warns: "Keeping funds on CEXs is a risk. Self-custody is the only real ownership!" 🚀🔒
🔥 And what about SBF?
🔹 Sam Bankman-Fried got 25 years in prison in March 2024 ⚖️🔒
🔹 His lawyers are appealing, and his parents want Trump to pardon him 😳
🔹 This comes after Trump already pardoned Silk Road’s Ross Ulbricht 🤯
🚀 Crazy times for crypto! Will FTX creditors reinvest or walk away forever? 🤔💸
#FTXRefunds #CryptoRecovery #FTXScandal #HODL #NotYourKeysNotYourCoins
$BTC
💰 Where’s the Money Going?
🔹 So far, $800M out of a $1.2B payout has been sent ✅
🔹 162,000 accounts paid—but that’s just 35% of the 460,000 claims 🤯
🔹 Split 50/50: Half goes to OG FTX users, half to debt buyers who bought claims at a discount 💸🔄
💳 How’s the Payment Happening?
🔹 Funds are moving through BitGo & Kraken 💼
🔹 Expect 1-3 business days for transfers ⏳
🔹 FTX set aside $7B for this phase, aiming for a $17B total refund 💰🚀
📈 FTX Recovery Rates
✅ Claims add up to $11.75B
✅ 100-142% recovery for secured/customer claims 💎
✅ 123-138% overall recovery rates—way higher than expected! 🔥
👀 Market Impact?
🔹 Some creditors cashing out ASAP 🏃💨
🔹 Others holding or reinvesting—could shake up the market! 📉📈
🔹 FTT token on watch as funds move 🔍👀
⚠️ Lesson Learned? Self-custody is king! 👑🔐
Crypto advocate Mr. Purple warns: "Keeping funds on CEXs is a risk. Self-custody is the only real ownership!" 🚀🔒
🔥 And what about SBF?
🔹 Sam Bankman-Fried got 25 years in prison in March 2024 ⚖️🔒
🔹 His lawyers are appealing, and his parents want Trump to pardon him 😳
🔹 This comes after Trump already pardoned Silk Road’s Ross Ulbricht 🤯
🚀 Crazy times for crypto! Will FTX creditors reinvest or walk away forever? 🤔💸
#FTXRefunds #CryptoRecovery #FTXScandal #HODL #NotYourKeysNotYourCoins
See original
🔥Elon Musk ignites the debate: Could Biden pardon Sam Bankman-Fried (SBF)? 🔥
The cryptocurrency world is in turmoil after a shocking statement from Elon Musk suggesting that President Biden might consider pardoning disgraced FTX founder Sam Bankman-Fried (SBF), who was recently sentenced to 25 years in prison for fraud and conspiracy.
Why this hypothesis?
Musk says the $5.2 million SBF donated to Biden's campaign, as well as its status as the second-largest contributor to the Democratic Party, could play a key role.
👉 The central question:
Why this hypothesis?
Musk says the $5.2 million SBF donated to Biden's campaign, as well as its status as the second-largest contributor to the Democratic Party, could play a key role.
👉 The central question:
💸 FTX Repayment: Will Customers Get Their Money Back? 🔄💰
The FTX collapse shook the crypto world, leaving billions in customer funds stuck in limbo. But recent developments suggest some users may finally see repayment—the big question is, how much and when?
🔹 Latest FTX Repayment Updates:
✅ Liquidation Process Underway – FTX is selling assets to recover funds 🔥
✅ Creditors May Recover 90%+ – Some reports suggest substantial repayments 📈
✅ Legal Battles Continue – Court proceedings and asset clawbacks affect payouts ⚖️
✅ FTX Token (FTT) Remains Volatile – Speculation around recovery fuels market swings 🎢
💡 What This Means for Affected Users
🔸 Repayments Could Take Months (or Years) ⏳ – Legal and financial complexities delay payouts.
🔸 Will Users Be Paid in Crypto or Cash? 🤔 – The method of repayment remains uncertain.
🔸 Asset Prices Matter 📉 – The value of recovered assets depends on market conditions.
🔥 Lessons from the FTX Collapse:
⚠️ Not Your Keys, Not Your Coins – Keep funds in private wallets for security.
⚠️ Beware of Centralized Risk – Even major platforms can fail.
⚠️ Diversify Holdings – Avoid keeping all funds in one place.
📢 Are you affected by FTX? Do you think full repayment is possible? Share your thoughts! ⬇️
#FTX #CryptoNews #FTXRepayment #Bitcoin #CryptoRecovery #FTXScandal
The FTX collapse shook the crypto world, leaving billions in customer funds stuck in limbo. But recent developments suggest some users may finally see repayment—the big question is, how much and when?
🔹 Latest FTX Repayment Updates:
✅ Liquidation Process Underway – FTX is selling assets to recover funds 🔥
✅ Creditors May Recover 90%+ – Some reports suggest substantial repayments 📈
✅ Legal Battles Continue – Court proceedings and asset clawbacks affect payouts ⚖️
✅ FTX Token (FTT) Remains Volatile – Speculation around recovery fuels market swings 🎢
💡 What This Means for Affected Users
🔸 Repayments Could Take Months (or Years) ⏳ – Legal and financial complexities delay payouts.
🔸 Will Users Be Paid in Crypto or Cash? 🤔 – The method of repayment remains uncertain.
🔸 Asset Prices Matter 📉 – The value of recovered assets depends on market conditions.
🔥 Lessons from the FTX Collapse:
⚠️ Not Your Keys, Not Your Coins – Keep funds in private wallets for security.
⚠️ Beware of Centralized Risk – Even major platforms can fail.
⚠️ Diversify Holdings – Avoid keeping all funds in one place.
📢 Are you affected by FTX? Do you think full repayment is possible? Share your thoughts! ⬇️
#FTX #CryptoNews #FTXRepayment #Bitcoin #CryptoRecovery #FTXScandal
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