Snapshot 4:Tue, Oct 8, 2024 9:10:59 PM GMT last edited by KateHennig

FTX Bankruptcy Approved, Customers to Receive Refunds

FTCFTX Bankruptcy Approved, Customers Willto Receive Refunds

Published OCT 8 2024

FTX Bankruptcy Approved, Customers to Receive Refunds

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The Spin

In a perfect world, customers would receive compensation with full interest, but this settlement willis be better than nothing. By putting a good chunk of the stolen money into valuable assets, Bankman-Fried made sure FTX could make some amends by selling those holdings and paying back most of its victims at 9% interest.

The Gentleman's Journal

While something is better than nothing, and bankruptcies usually result in zero compensation, it's inaccurate to claim customers are being 100% compensated. If FTX didn't outright steal people's property and use it to fund Bankman-Fried's lavish lifestyle, many of these victims would be enjoying incredible profits right now.

BanklessTimes