Lawyers for FTX disclosed Tuesday that a 'substantial amount' of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back.
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FTX spent $300M on Bahamas real estate, 'substantial' assets missing, lawyers sayAn attorney said the $300 million spent on real estate was largely homes and vacation properties for senior staff.
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FTX had 'substantial amount' of assets stolen, diminishing odds users will get their money backLawyers for FTX Trading disclosed Tuesday that a 'substantial amount' of assets has been stolen from accounts on the collapsed cryptocurrency exchange, diminishing the odds that its millions of users will get their money back.
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FTX lawyer: 'Substantial amount' of assets has been stolenLawyers for FTX disclosed Tuesday that a “substantial amount' of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. The admission came during FTX's first court appearance since the company filed for bankruptcy protection on November 11. Such hearings typically happen days after a filing, but this one was delayed because FTX's collapse came suddenly and management kept few if any records.
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FTX Collapse: A ‘Substantial Amount’ Of Assets Are Missing And May Have Been StolenThe failed exchange filed the largest chapter 11 in crypto history.
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FTX lawyer says 'substantial amount' of assets are either stolen or missing | CNN BusinessThe full extent of FTX's financial disarray is becoming clearer as the failed crypto exchange's new management combs for cash as part of the bankruptcy process.
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FTX Lawyer Says ‘Substantial Amount’ of Crypto Firm’s Assets Stolen or MissingA “substantial amount” of assets of failed crypto exchange FTX are presently missing and may have been stolen as a liquidity crunch precipitated a crisis of leadership and led the firm to collapse, its lawyer said in court
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