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Because it didn't owe them the amount in kind, it was a dollar denominated amount at the time of bankruptcy (when crypto was low). The victims may not have lost
by rKarpinski 2y ago
Because it didn't owe them the amount in kind, it was a dollar denominated amount at the time of bankruptcy (when crypto was low). The victims may not have lost everything but they are far from whole.
- null0pointer 2y agoYou are completely right. “Not your keys, not your coins” This lesson apparently needs to be learnt the hard way over and over and over. To be clear I’m not trying to victim blame here, it’s just that if people actually understood what they were buying then they would have known this. FTX, and indeed all legally incorporated companies in the crypto space, are greedy scumbags antithetical to the entire purpose of crypto.
- whereismyacc 2y agoAlso FTX owned a bunch of anthropic and probably other AI stocks that have performed well?
- rKarpinski 2y agoIt's mainly coming from their victim's crypto that has rallied since they declared bankruptcy - because technically they only owe them what the crypto was worth in USD in November 2022, but they didn't sell it all then & now those assets are worth considerably more.