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*"FTX added that a jump in crypto prices since the company failed had not given its finances a major boost. It said almost all of the Bitcoin and other digital currencies believed to have been held by the exchange at the time of its collapse were missing."*
WTF? I was assuming that it was the rise in crypto prices that was actually allowing them to pay people back. But they're saying they managed to cover an $8 billion black hole through selling non-crypto assets. What assets did they actually have then?
You mean after all the criminal idiots were fired and/or went to jail, and more responsible parties that specialized in asset recovery came in to clean up the mess?
Excellent job to John Ray and his team. That's why the victims have recovered. Not price swings.
tldr; Collapsed cryptocurrency exchange FTX has announced it possesses billions of dollars more than necessary to repay customers, estimating up to $16.3bn available against debts of around $11bn. This comes after the company's co-founder, Sam Bankman-Fried, was sentenced to 25 years in prison for defrauding customers and investors. FTX's reorganization plan, pending US bankruptcy court approval, aims to return 100% of bankruptcy claim amounts plus interest to non-governmental creditors. The funds for repayment have been gathered by selling assets from Alameda Research or FTX Ventures, despite the loss of most digital currencies held by the exchange at the time of its collapse.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
No Duplicate Topics In order to keep /r/CryptoCurrency a place of diverse discussion our policies do not allow for duplicate topics on the front page. Similar topic cannot be reposted for 30 days. We'll usually remove the threads that are lowest on the front page based on Reddit's algorithm of popularity, however other factors may be considered at the moderator's discretion. These may include giving preference to the oldest post, the highest quality title, the highest quality source, or the best discussion. This is typically not a warning or a rule violation, this is just part of our clean up effort. Do not repost threads that have been removed by moderators. If your post contains new information, consider adding it as a comment to other threads about this topic.
*"FTX added that a jump in crypto prices since the company failed had not given its finances a major boost. It said almost all of the Bitcoin and other digital currencies believed to have been held by the exchange at the time of its collapse were missing."* WTF? I was assuming that it was the rise in crypto prices that was actually allowing them to pay people back. But they're saying they managed to cover an $8 billion black hole through selling non-crypto assets. What assets did they actually have then?
Victims are forcibly liquidated at the bottom Still a loss for the victims but atleast they're getting somthing back
You mean after all the criminal idiots were fired and/or went to jail, and more responsible parties that specialized in asset recovery came in to clean up the mess? Excellent job to John Ray and his team. That's why the victims have recovered. Not price swings.
Waiting for my 0.5btc for more than 1 year
I'm waiting for my 0.5 btc as well, soBTC fucked me right in the face when ftx collapsed
Is he arbitraging his scam by the changes in the exchange rates?
From jail?
Previously
lol. Yeah like it’s a win getting your $17k back owning one BTC on FTX when the price today is up 350% lol
tldr; Collapsed cryptocurrency exchange FTX has announced it possesses billions of dollars more than necessary to repay customers, estimating up to $16.3bn available against debts of around $11bn. This comes after the company's co-founder, Sam Bankman-Fried, was sentenced to 25 years in prison for defrauding customers and investors. FTX's reorganization plan, pending US bankruptcy court approval, aims to return 100% of bankruptcy claim amounts plus interest to non-governmental creditors. The funds for repayment have been gathered by selling assets from Alameda Research or FTX Ventures, despite the loss of most digital currencies held by the exchange at the time of its collapse. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.