Customers who trusted crypto giant FTX may be left with nothing | CNN Business

As the dust settles from one of the most shocking financial implosions in history, one of the key unknowns is how much customers who can’t access their money expect to get back from FTX, the crypto exchange that filed for bankruptcy last week. The answer, according to legal experts, may be zero. Before its unraveling, FTX.com marketed itself as a safe-for-beginners destination for buying and selling cryptocurrencies.

In bankruptcies, Snyder explains, there’s a fairly simple formula to figure out how much creditors — in this case, FTX depositors — will receive. “The numerator is the assets, the denominator’s liability. You divide one into the other, and the [result] is what everybody gets,” he said. “But if people are pulling out all the assets, then there’s not going to be much of a numerator.” He added: “It’s very conceivable that the return will be minimal at best.

Y’all really keep buying into these pyramid scams lol

GOOD!!!... Don't Overthink It!!!...

Is CNN investigating the potential money laundering scheme between the Democratic party, Ukraine, and FTX?

R.I.P💀

Well that happens when finacial bubbles burst...just like Do Kwon Scandal...but these crypto lovers don't get it

But the Democratic Party received 40 million, haha! They simply approve of receiving and using stolen money, right?

No mention of Alameda and the stolen customers assets used on high risk trades he lost or that he's the Dems 2nd largest donor....... GJ CNN.

Aaaand….it’s gone.

FTX is just the Bear-Sterns/Enron of 2022

How exactly do you define 'shocking' because uh...no. 🤨

Meh! SamBankmanFried just used FTX to grift and victimize customers the same way Wall Street used those sub-prime mortgages to rob homeowners back in the 2008 Financial crisis. Same game, different player.

Lying joe Biden spends his resources attacking politicians of the opposition while letting this slide if you got screwed thank lying joe Biden and his henchmen Pelosi Schumer Sanders Warren AOC etc

I need a simple explanation of what happened Or is it just as simple as money got gone

This guy cost thousands of people their life savings, and will probably be responsible for some suicides, and he's playing word games on twitter... Some people really do not have souls

Bahaha but the Democratic Party got 40 million!! They just cool with receiving and using stolen money 🤡

Looks like no more money laundering for Ukraine. The Big guy won't get his cut and Gen. Miley is already ready to negotiate with the Russians.

History MONEY

don't let crypto on your exchange, if its not with you, then, it isn't yours

Crypto the anti-sovereign Monopoly money wants to get saved by sovereign entities- now that’s an oxymoron! Just think you ran away from Govt to be controlled by unknown folks who don’t give a hoot

I think this is a big deal. It is likely to trigger a chain of large-scale bankruptcies. Amen

Will Bitcoin ever recover 👎

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