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How FTX Collapsed: An Industry Insider's Take, Ep 220

The Blockcrunch Podcast

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The FTX Bankruptcy Saga Continues

FTX once again publicly claims that they were ordered by regulators in Bahamas to process withdrawals which we later learned was also an outright lie. One prominent crypto twitter personality, Al God from capital 78 seems to have done this publicly as well and was accused of buying accounts for cents on the dollar and cashing out fully through Bahamas KYC. Now from a reference check with lawyers this is likely considered to be money laundering. So he might be sharing a cell of SPF, half kidding. But I think the expectation is given the size and the complexity of this entire procedure users could wait up to 5 to 10 years before they see cents on the dollars back. Not the most ideal outcome for everyone involved

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