Source of article: The Straits Times

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In summary:

Recent news about FTX, a place where people trade cryptocurrencies, suggests that even though the company is having money problems, customers might still get some of their money back. This is different from what usually happens when a company goes broke – often, people lose a lot or even all of their money. But with FTX, it seems like the stuff the company owns is worth more than what it owes.

Big investors like Sequoia, SoftBank, and a company from Singapore called Temasek might also get back some of the money they put into FTX. Despite this, customers aren’t happy because they thought they’d get more money back than they probably will. This info comes from a news report by Ms. Claire Huang, who writes about business for the Singapore Straits Times. Her report was published on 18 May 2024 and gives a detailed look at what’s going on with FTX.

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