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They 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 a
by charleslmunger 3y ago
They 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.