They put their trust in FTX. Now their money is frozen — and maybe wiped out.

In the first year of the pandemic, Manny Bautista started investing in cryptocurrencies — first on the exchange platform Coinbase and later on FTX, the

In the first year of the pandemic, Manny Bautista started investing in cryptocurrencies — first on the exchange platform Coinbase and later on FTX, the brainchild of wunderkind entrepreneur Sam Bankman-Fried.

Two years later, Bautista and hundreds of thousands of other FTX customers are in limbo, shocked and unsure what happens next. FTX has paused customer withdrawals, and there’s growing doubt that customers will be able to recover any of their assets. 

Bautista isn’t optimistic. He has lost access to crypto assets valued at roughly $35,000, according to a screenshot he took in the days before FTX tanked and shared with NBC News.

“Everything is gone in an instant, just like that? I’m pretty sure there’s no way to get it back,” he said. “It’s lost at this point.” 

Bautista, 34, got the FTX itch thanks in part to flashy advertising.

https://www.nbcnews.com/tech/crypto/put-money-ftx-now-money-frozen-maybe-wiped-rcna57251


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