Saturday, July 13, 2024
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FTX, a major cryptocurrency exchange, has recovered $5 billion worth of liquid assets, according to the company’s lawyers. The assets were allegedly stolen by Sam Bankman-Fried, the company’s CEO, who is currently facing legal action. The lawyers said that the assets were recovered through a combination of legal action and negotiation, and will be used to repay customers who were affected by the theft. The news has been welcomed by the crypto community, with many praising FTX for its swift actions and transparency in the matter. This case serves as a reminder of the importance of due diligence when entrusting money to any financial entity. and shows the potential of the legal system in cases of fraud and embezzlement in the crypto industry.


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