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The First Bankruptcy Hearing for FTX has been held and Implicates Sam Bankman-Fried's Parents as Real Estate including a Luxury Penthouse in the Bahamas is Registered in their names. FTX was the second largest CRYPTO Currency Exchange and is now in Chapter BANKRUPTCY with over 1 Million Creditors. John Ray, the Bankruptcy practitioner for Enron, has been appointed as CEO and his initial findings are that this is WORSE than Enron which was the biggest accounting fraud in USA history. In this video I provide more details on the FTX situation and discuss the failures surrounding the business.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
2:06 BANKRUPTCY HEARING
4:17 REAL ESTATE
8:40 FTC BUSINESS MODEL
13:48 NET INCOME
17:12 FTT
21:03 ALAMEDA RESEARCH
24:09 SUMMARY & CONCLUSION
#ftx
#crypto
#fraud
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds
