The American Celebrity Was FTX Victim: Their Bitcoins Are Left On The Stock Exchange!

American internet celebrity Dave Portnoy in a recent tweet FTX on the stock exchange bitcoin expressed concern about what would happen to their assets.

Portnoy, in distress cryptocurrency He asked if his exchange would still have access to his cryptocurrency if it went bankrupt.

American Internet Celebrity Dave Portnoy Implied He Had Bitcoins On FTX

I have a dumb question. If I bought bitcoins through FTX and FTX goes belly up where do they go?Like Bitcoins are finite right? Does anybody have access to them or are they just lost in the ether or something forever? #ddtg

— Dave Portnoy (@stoolpresidente) November 9, 2022

Ripple’s chief technology officer David Schwartzannounced that Portnoy would be treated as a creditor, meaning he would be roughly in last place to receive them.

Schwartz suggested a change to the existing law and prioritize customers by treating them like traditional intermediaries.

Binance announced that it decided to withdraw from the agreement with FTX as a result of corporate due diligence.

Besides Sam Bankman-Fried Alameda Research, a trading firm controlled by the company, suffered significant losses.

According to a recent report by Reuters, Bankman-Fried tried to bail out the firm by passing $4 billion on without disclosing this information to other executives. Part of the amount in question included customer deposits.

Bankman-Fried reportedly told investors there was an $8 billion hole in the stock market and is currently facing bankruptcy.

The FTX exchange is reportedly being investigated by the U.S. Securities and Exchange Commission, as well as the Commodity Futures Trading Commission and the Department of Justice.

Bitcoin recently dropped below the $16,000 level amid the worsening crisis. Fundstrat recently predicted that it could potentially drop below the $10,000 level.

The latest statement made by the CEO of FTX is in the news below:

*Not investment advice.