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What do you mean when you say he instructed them to sell his coins? On the 9th, he could still log into his account. And I don't believe FTX staff were taking p
by eaurouge 4y ago
What do you mean when you say he instructed them to sell his coins? On the 9th, he could still log into his account. And I don't believe FTX staff were taking phone instructions to buy/sell tokens on behalf of customers.
You need answers to, and ideally proof of, the following:
- token holdings and USD balance before any transactions on the 9th
- token holdings and USD balance after the 9th
I've seen Twitter posts reporting inaccurate claim balances.
And I'm not sure a determination has been made yet on how tokens will be valued. That is, USD value at time of bankruptcy vs USD value at some court appointed date.
Find a community of FTX claimants, possibly on Twitter or similar, so you can stay up to date on the process.
Say he had a $51K portfolio of FTT tokens on the 9th, present value is ~$3K (https://www.coingecko.com/en/coins/ftx-token https://www.coingecko.com/en/coins/ftx-token). Higher if he held BTC or ETH.
So first step is to get a clearer picture of what was held. Then he can elect to submit a claim and wait for the process to play out, or he can try to sell his claim to a third party.