Rub out point in FTX

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Aug 6th, 2022
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How to rub out point in FTX

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we got a fun little FTX update Ryan is so excited about this because of the text message or the DMS the DMS yes so uh I heard Iamp;#39;ve heard him called now Sam bankrun fraud which is pretty good itamp;#39;s still SPF same Bank Run fraud uh the former CEO of fftx uh did an interview with a reporter with uh at Vox which uh he was funding a future perfect Future something you know section of a Vox we can put D1 up on the screen the reporter was um so the reporter uh dmamp;#39;d him to uh I had this up here it is yeah to see Piper and the part that I wanted to focus on the entire the entire text exchange that she publishes is just absolutely extraordinary this is a guy whoamp;#39;s sitting in a bean bag in the Bahamas just incriminating himself all up and down like just in an incredible way but he also indicted all of society with this one exchange and so sheamp;#39;s sheamp;#39;s asking him about his effective altruism and all of the like good works and all the talk that he was d

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FTX said in recent court filings that 98% of its customers will be able to receive full repayment within 60 days of a bankruptcy court approval of its wind-down plan. The faster payment option will cover all customers who are owed up to $50,000.
Bankrupt Crypto Firm FTX Is Going to Pay Customers Back in Full Plus Interest A majority of customers would get at least 118% of their money back under a proposed plan, as the company now has up to $16.3 billion in cash to use.
In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX created a wave of bankruptcies throughout the industry. In 2023, BlockFi, Genesis, and 3AC (a hedge fund), all of whom had money in or loaned to FTX, failed.
FTX says it will return money to most of its customers : NPR. FTX says it will return money to most of its customers FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.
Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
FTX now says that 98% of its creditors, including individual investors who had US$50,000 or less with FTX, will receive the funds they lost. Payments will be made in cash within 60 days of a reorganisation plan going into effect. However, this plan still needs to be approved by a US bankruptcy court and by creditors.
FTX has said its reorganization plan would give 98% of creditors 118% of their claims in cash within 60 days of court approval.
Under FTXs re-organisation plan, customers whose claims amount to US$50,000 or less will receive roughly 118 per cent of the amount of their allowed claim. About 98 per cent of creditors will receive this compensation.

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