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> The $10 billion loss asserted in the PSR is "illusory" because the "victims are poised to recover—were always poised to recover—a hundred cents on the dollar"
by rKarpinski 3y ago
> The $10 billion loss asserted in the PSR is "illusory" because the "victims are poised to recover—were always poised to recover—a hundred cents on the dollar" in bankruptcy proceedings, SBF's filing said
Can someone explain how this would be? Didn't they loose billions of dollars through Alameda?
- more_corn 3y agoSure. This assertion is due to “lies” SBF is a liar and a conman.
- 4d66ba06 3y agoAnthrophic share sale sounds like it can cover it at those original prices https://www.reuters.com/technology/crypto-exchange-ftx-sell-shares-ai-startup-anthropic-2024-02-22/ https://www.reuters.com/technology/crypto-exchange-ftx-sell-...
- rKarpinski 3y agoFrom the article it looks like the 500mm investment is now around 1.5B (if they could sell their block at the 18B valuation). Thats a lot less than they lost.
- charleslmunger 3y agoThey are paying out dollarized claims, and the crypto prices they used to calculate the dollar value of claims were way lower than the crypto prices when they actually sold FTX's crypto holdings. So if you had 1 BTC on ftx, your claim is for $16,871.63. The team responsible to managing the FTX bankruptcy sold at some higher price, and today BTC is trading at $61,766.40. Understandably people are not thrilled about "being made whole" under these circumstances.
- FireBeyond 3y agoAnd not to mention, a large part of SBF's claims of being able to make people whole is in large part because of this appreciation, not because of any "non-predatory" behavior on his part.