recovery
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Bankrupt FTX says they have recovered $7 billion in liquid assets.
The new FTX management team has recovered $7 billion, according to Bloomberg, as a new investigative report has been released by the now-collapsed exchange. Moreover, the new management has stated they have made, “substantial progress” in asset recovery.
However, the newly revealed investigative report shows the exchange owes its customers $8.7 billion. That total amount was owed at the time of the bankruptcy filings last year. Additionally, the report noted that $6.4 billion of that total is fiat currency and stablecoins that have been misused.
#ftx #FTX #exchanges #recovery
The new FTX management team has recovered $7 billion, according to Bloomberg, as a new investigative report has been released by the now-collapsed exchange. Moreover, the new management has stated they have made, “substantial progress” in asset recovery.
However, the newly revealed investigative report shows the exchange owes its customers $8.7 billion. That total amount was owed at the time of the bankruptcy filings last year. Additionally, the report noted that $6.4 billion of that total is fiat currency and stablecoins that have been misused.
#ftx #FTX #exchanges #recovery
- John Reed Stark, a former SEC insider, casts doubt on the approval of a spot Bitcoin Exchange Traded Fund (ETF), asserting that the chances are "slim and none."
- Stark cites evidence of market manipulation and unethical practices in the crypto industry, leading to his skeptical view.
- He refers to the cryptocurrency market as a "Walking Dead-Like, Anarchical Financial Marketplace" due to its chaotic nature.
- Stark highlights the absence of regulatory oversight, consumer protections, and financial safeguards in the crypto space.
- The use of bots to manipulate cryptocurrency prices, particularly for FTX-listed assets, raises concerns about market authenticity.
- Stark criticizes the crypto industry for rewarding and teaching fraud, and also highlights how victims become unwitting participants in fraudulent schemes through social media.
- The need for regulatory clarity and investor protection in the cryptocurrency sector is emphasized, as the industry evolves rapidly.
- The SEC's deferral of the #decision on a #spot #bitcoin #ETF raises questions about the potential for market #recovery and upswing if such an approval were to occur.
- Stark cites evidence of market manipulation and unethical practices in the crypto industry, leading to his skeptical view.
- He refers to the cryptocurrency market as a "Walking Dead-Like, Anarchical Financial Marketplace" due to its chaotic nature.
- Stark highlights the absence of regulatory oversight, consumer protections, and financial safeguards in the crypto space.
- The use of bots to manipulate cryptocurrency prices, particularly for FTX-listed assets, raises concerns about market authenticity.
- Stark criticizes the crypto industry for rewarding and teaching fraud, and also highlights how victims become unwitting participants in fraudulent schemes through social media.
- The need for regulatory clarity and investor protection in the cryptocurrency sector is emphasized, as the industry evolves rapidly.
- The SEC's deferral of the #decision on a #spot #bitcoin #ETF raises questions about the potential for market #recovery and upswing if such an approval were to occur.
Move Assets Between Wallets
I recently purchased an entire Wallet with crypto in it. As the wallet previously belonged to another trader, I was not happy knowing that the wallet was not secure because the previous owner could still have the recovery phrase etc. I was also not fond of the wallet provider being used. I decided to move all the Assets to a brand new wallet, where I was in control of the Assets.
I wanted a new wallet address and mnemonic phrase and having the functionality that I am comfortable with. I also wanted to keep all the assets separate for a period so I could monitor the performance of my seperately.
To do this, I needed my iOS or Android device,
Access to the Old Wallet (OW) & app, the blank New Wallet (NW) & app.
I collected the details of all the Networks and Tokens from OW. Also from one of the stats apps ran a report of all the assets and balances from OW. To make the transfer smoother, I converted all the small balance assets to a single Asset (I converted all to USDT but its up to you)
-Download, install & set up the latest version of both apps on your device
-Open the NW app, select Create a new wallet Accept terms & backup the secret phrase (depending on the wallet)
-Add or enable the necessary Networks and Tokens in NW (Backup both wallets)
-In the NW app scroll/search for the asset & select Receive or Deposit
-Use Copy or Share option to Email yourself the address (I added the addresses as contacts in OW to avoid sending each address via email) I prepared a spreadsheet with Addresses & amounts (for reconciliation)
-Open OW & select Send from the menu, search/select the asset to be sent
-From OW paste/select the address for NW in the Recipient address
-Review the details & Confirm
Complete! Your assets are now in your NW. Depending on the asset, transfer times are from a few minutes to much longer. Repeat for each Asset
From NW run reports & match to the OW report. Some assets lost due to fees and slippage, but my crypto is secure in my new wallet
#recovery #AssetProtection #wallet-to-wallet #TokenTransfers #networks
I recently purchased an entire Wallet with crypto in it. As the wallet previously belonged to another trader, I was not happy knowing that the wallet was not secure because the previous owner could still have the recovery phrase etc. I was also not fond of the wallet provider being used. I decided to move all the Assets to a brand new wallet, where I was in control of the Assets.
I wanted a new wallet address and mnemonic phrase and having the functionality that I am comfortable with. I also wanted to keep all the assets separate for a period so I could monitor the performance of my seperately.
To do this, I needed my iOS or Android device,
Access to the Old Wallet (OW) & app, the blank New Wallet (NW) & app.
I collected the details of all the Networks and Tokens from OW. Also from one of the stats apps ran a report of all the assets and balances from OW. To make the transfer smoother, I converted all the small balance assets to a single Asset (I converted all to USDT but its up to you)
-Download, install & set up the latest version of both apps on your device
-Open the NW app, select Create a new wallet Accept terms & backup the secret phrase (depending on the wallet)
-Add or enable the necessary Networks and Tokens in NW (Backup both wallets)
-In the NW app scroll/search for the asset & select Receive or Deposit
-Use Copy or Share option to Email yourself the address (I added the addresses as contacts in OW to avoid sending each address via email) I prepared a spreadsheet with Addresses & amounts (for reconciliation)
-Open OW & select Send from the menu, search/select the asset to be sent
-From OW paste/select the address for NW in the Recipient address
-Review the details & Confirm
Complete! Your assets are now in your NW. Depending on the asset, transfer times are from a few minutes to much longer. Repeat for each Asset
From NW run reports & match to the OW report. Some assets lost due to fees and slippage, but my crypto is secure in my new wallet
#recovery #AssetProtection #wallet-to-wallet #TokenTransfers #networks
▪️Keep Your Private Keys Secure: If you're using a cryptocurrency wallet, ensure you keep your private keys or recovery phrases secure and confidential. Losing access to these could lead to losing your funds permanently. #privatekeys #crypto2023 #crypto #cryptocurrency #recovery
The new FTX management team has recovered $7 billion, according to Bloomberg, as a new investigative report has been released by the now-collapsed exchange.
Moreover, the new management has stated they have made, “substantial progress” in asset recovery.
However, the newly revealed investigative report shows the exchange owes its customers $8.7 billion. That total amount was owed at the time of the bankruptcy filings last year.
Additionally, the report noted that $6.4 billion of that total is fiat currency and stablecoins that have been misused.
#ftx #assets #recovery #cryptocurrency #cryptoonindia
Moreover, the new management has stated they have made, “substantial progress” in asset recovery.
However, the newly revealed investigative report shows the exchange owes its customers $8.7 billion. That total amount was owed at the time of the bankruptcy filings last year.
Additionally, the report noted that $6.4 billion of that total is fiat currency and stablecoins that have been misused.
#ftx #assets #recovery #cryptocurrency #cryptoonindia
- RECUR, an NFT brand experience company, will halt its use of the RECUR platform beginning November 16.
- Earlier, Paramount had partnered with RECUR to create the fan-focused #NFT #marketplace Paramount.xyz.
- Haru Invest's CEO, Hugo Lee, has communicated to members that the current #recovery process for certain #assets is not effectively aligning with the timing and methods desired by most members.
- Some companies identified by creditors for asset recovery aren't actively operational or holding member assets, according to Lee.
- Lee intends to present #essential factual confirmations through court procedures to clarify this matter.
- Detailed information about these facts will be shared during the September 7 inquiry day, including Haru Invest's thoughts on asset distribution strategies.
- Lee emphasized the separation of customer allocation assets from company operating expenses since the suspension of withdrawal services on June 13.
- The company's operations have stopped, expenses have been restricted, and assets have been depleted.
- Assets assigned to members are being managed independently, and external management partners are handling the recovery process.
- Haru Invest is collaborating with investigative agencies to recover B&S Holdings assets, which is expected to take a significant amount of time.
- Despite challenges, the company will continue to cooperate with investigative agencies.
- The previously announced asset allocation plan (recovered assets via installment payments) remains possible after explaining the settlement process to the court and completing subsequent stages of progress.
- Earlier, Paramount had partnered with RECUR to create the fan-focused #NFT #marketplace Paramount.xyz.
- Haru Invest's CEO, Hugo Lee, has communicated to members that the current #recovery process for certain #assets is not effectively aligning with the timing and methods desired by most members.
- Some companies identified by creditors for asset recovery aren't actively operational or holding member assets, according to Lee.
- Lee intends to present #essential factual confirmations through court procedures to clarify this matter.
- Detailed information about these facts will be shared during the September 7 inquiry day, including Haru Invest's thoughts on asset distribution strategies.
- Lee emphasized the separation of customer allocation assets from company operating expenses since the suspension of withdrawal services on June 13.
- The company's operations have stopped, expenses have been restricted, and assets have been depleted.
- Assets assigned to members are being managed independently, and external management partners are handling the recovery process.
- Haru Invest is collaborating with investigative agencies to recover B&S Holdings assets, which is expected to take a significant amount of time.
- Despite challenges, the company will continue to cooperate with investigative agencies.
- The previously announced asset allocation plan (recovered assets via installment payments) remains possible after explaining the settlement process to the court and completing subsequent stages of progress.
🚨📉 made huge loses ? Should u quit crypto ? 😬
Hi peeps This one is really gonna be important because i have seen many people in my comment section disappointed , depressed and saddened By there loses and It would be an important question for them , Should they quit crypto ?
Look first of all dont take any wrong step ( such as Harming urself in these situations )
Now if u think ur skills aren’t good then take a pause and learn more , don’t quit
if u have lost the will to trade and notice The revenge trading , gambling behaviour in yourself then Yes immediately quit.
And if u r in losses please don’t borrow money from anyone as it could make u More depressed.
Atlast only quit if u have either lost your capital to it’s fullest or If u observe the above behaviour
#Binance #recovery
Hi peeps This one is really gonna be important because i have seen many people in my comment section disappointed , depressed and saddened By there loses and It would be an important question for them , Should they quit crypto ?
Look first of all dont take any wrong step ( such as Harming urself in these situations )
Now if u think ur skills aren’t good then take a pause and learn more , don’t quit
if u have lost the will to trade and notice The revenge trading , gambling behaviour in yourself then Yes immediately quit.
And if u r in losses please don’t borrow money from anyone as it could make u More depressed.
Atlast only quit if u have either lost your capital to it’s fullest or If u observe the above behaviour
#Binance #recovery
- The U.S. Producer Price Index ( #PPI ) rose by 0.8% annually in July, exceeding the predicted 0.7% and ending a 12-month streak of declines.
- PPI measures #inflation by tracking changes in #selling prices received by domestic producers for their output.
- This increase indicates a #recovery in pricing pressure and a halt to the previous period of decline.
- The unexpected PPI growth suggests heightened economic activity, implying a brighter U.S. #economic outlook post-COVID-19 challenges.
$BNB $ETH $BTC
- PPI measures #inflation by tracking changes in #selling prices received by domestic producers for their output.
- This increase indicates a #recovery in pricing pressure and a halt to the previous period of decline.
- The unexpected PPI growth suggests heightened economic activity, implying a brighter U.S. #economic outlook post-COVID-19 challenges.
$BNB $ETH $BTC