The FTX currency platform, which filed for bankruptcy on Friday, mysteriously lost $662 million worth of cryptocurrencies in a single day.
According to the newspaper “Bloomberg”: “The FTX digital currency platform, and its founder Sam Bankan Farad, witnessed a mysterious loss of nearly $ 662 million in digital currencies in the last 24 hours, which represents the latest development in one of the darkest periods of digital currencies.
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The stock exchange’s legal counsel, Ryan Miller, reportedly referred to the governor’s money movement as “suspicious,” and he claimed that FTX began transferring digital assets to non-internet portfolios to lessen the harm brought on by unauthorised transactions.
The president of the company added: “It is not clear exactly who do these deals.” According to Nansen Analysis, an external flow of $ 662 million of international and American stock exchanges has been recorded.
On Friday, the platform announced that it had submitted a bankruptcy request under Chapter 11 of the American Banking Law, and its founder Sam Banglan Fried stepped down from the company’s presidency, after he lost about 94% of his wealth in one day due to this crisis.
According to Changing Zao, the CEO of the “Bennes” platform for digital currencies, who has cautioned that additional businesses may fail in the coming weeks as a result of FTX issues.
Zao stressed that the 2008 global financial crisis “is the most accurate analogy” of this week’s events and that the full effects of the collapse on the FTX digital currency exchange have not yet been felt.
Zao pointed out that with the fall of FTX, we will see successive effects on the market, especially for those close to the FTX system, they will be negatively affected.
Source: Organizations.
The FTX encrypted currency platform’s demise after a $662 million loss
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