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They're not really being made whole. > Depending on the type of claim they hold in the case, some creditors could recover as much as 142% of what they are owed
by lesuorac 3y ago
They're not really being made whole.
> Depending on the type of claim they hold in the case, some creditors could recover as much as 142% of what they are owed. The vast majority of customers, however, will likely get 118% of what they had on the FTX platform the day the company entered Chapter 11 bankruptcy.
If you had 2 bitcoins worth say 16k each in FTX; FTX is able to give you back 32k which is the value of your bitcoin at the time. (~Nov '22). But it's not giving you back 2 bitcoins (120k; presently).
Same with if you had Solana which was $13 (~Nov '22) but is now $148.
- s1artibartfast 3y agoSure, I agree they are not made whole, but magnitude of financial damage is absolutely a factor in sentencing.