Good News From a Bad Situation
TL;DR
Full Story
For those who misplaced cash in FTX, we’ve got some excellent news, and a few dangerous information.
The excellent news is:
The property claims that 98% of collectors ought to obtain at the very least 118% of allowed claims in money inside 60 days of their payout plan coming into impact.
Translation: you have to be getting your a refund, plus a little bit additional on high.
The truth is, the FTX property at present estimates that when the entire property that has been collected has been transformed to money — the quantity accessible for distribution might be between $14.5B and $16.3B.
(For context — when FTX went kaput, the agency misplaced an estimated $8B in buyer funds).
The dangerous information is:
Collectors might be receiving their payouts in money
…so if you happen to had a bunch of crypto that has since appreciated greater than 118% — like for instance: BTC, which has elevated ~300% since FTX went below…
Then you definately’re going to be taking a loss.
Not nice. However higher than nothing.
