Is FTX Ukraine  Scandal real?

About FTX

FTX is one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.

Founder of FTX

Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.

The Bankruptcy

Acc. to a statement released by Sam, FTX requires over $9 billion to overcome bankruptcy. It has filed for bankruptcy.

SEC investigation

SEC has taken steps to investigate FTX for potential security violations, criminal activities or any sort of offense committed.

Ukraine Money Laundering

Rumours are FTX foundation & Ukraine's fundraising foundation "AidforUkraine" collaborated to convert crypto donation to fiat illegally.

The Theory behind

The speculations highlights that Ukraine allegedly invested in FTX, who donated money to Democrats using the exchange.

The Denial

Alex Bornyakov, deputy minister of Ukraine, tweeted & denied such allegations.

Where is Sam?

SAM, co-founder Gary Wang are understood to be under the supervision of local authorities in Bahamas.

What's next?

FTX is likely to dissolve and with it crypto markets will face an intense sell-off. User's funds aren't safe anymore after the hack which is done intentionally

Why Binance didn't buy FTX?

Swipe up to learn why the deal failed to take-off.

We're on You Tube

Find the best Crypto content only on   Katoch Tubes