Cryptocurrency Q&A How much money did FTX lose?

How much money did FTX lose?

SolitudeNebula SolitudeNebula Wed May 08 2024 | 6 answers 1492
Could you possibly provide a more detailed breakdown of the financial losses incurred by FTX? I'm keen to understand the magnitude of this debacle and the specific figures behind the headline-grabbing losses. Was it a matter of millions, billions, or perhaps even more? Additionally, could you elaborate on the primary causes of these losses? Were they due to irresponsible management, inadequate security measures, or some other factors entirely? It would be highly appreciated if you could offer a comprehensive overview of this financial debacle, including any significant events or decisions that might have contributed to the magnitude of the losses. How much money did FTX lose?

6 answers

MountFujiVista MountFujiVista Thu May 09 2024
Kaplan imposed a forfeiture order of $11 billion and authorized the government to use the confiscated assets to compensate the victims.

Was this helpful?

231
67
Alessandra Alessandra Thu May 09 2024
Kaplan's investigation revealed significant losses incurred by FTX customers.

Was this helpful?

374
86
CryptoNinja CryptoNinja Thu May 09 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures contracts, and crypto wallets.

Was this helpful?

112
22
Federico Federico Thu May 09 2024
The forfeited assets are estimated to amount to $8 billion, which will be used to compensate the victims of the FTX collapse.

Was this helpful?

319
37
Lucia Lucia Thu May 09 2024
Additionally, equity investors in FTX suffered a loss of $1.7 billion.

Was this helpful?

296
78
Load 5 more related questions

|Topics at Cryptocurrency Q&A

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users

The World's Leading Crypto Trading Platform

Get my welcome gifts