Stay updated with breaking news from User Funds. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Fintech, short for financial technology, has emerged as a transformative force in modern finance, revolutionizing the way we manage, invest, and interact with
Pete: and the binance ceo, i can't pronounce his name, let's go with cz, they were going to bail out ftx, hey, we'll buy you while you're down. he had a day to look at the financials -- will: look under the hood. pete: there's no way we can absorb company, it's a total disaster, so that deal fell apart which led to the bankruptcy proceedings not just of alameda, but ftx as well. will: cz, the man behind binance, who took a look at the books, he spoke to fox business' susan li this week. >> as soon as we discovered that he actually moved user funds without disclosing that and basically was lyin...
>> 90% of his money was spent for democrats. >> that contributed to the republicans, i'm confident in the ability of congress to conduct oversight. people will see the hearings and cross examination and judge for themselves. >> he's extradited from the bahamas to answer to a class action lawsuit named ftx and's celebrities. shaq and larry david all promoted ftx and commercials like the one you see here. we heard from one who says he lost $2 million in this alleged scheme. >> this was a con man, he fooled everyone. he was the closest to being regulated by anybody else but was intentionally done...
Somebody. okay, you can take that money. just completely disorganized. faulty cash management. corporate funds used to buy homes and personal items. full employee roster unknown. susan, you spoke with the ceo of another crypto exchange, trying to help ftx at one point to stay afloat. what's interesting, they were trying to help each other stay afloat, but then he said we're out. >> here's what happened, is that this bankruptcy from ftx really started when the richest man in crypto, when he started selling about half a billion dollars worth of ftx's tokens. >> martha: watch this. >> as soon as ...