2 ms·
Depends on why they're made whole. If it turns out that he didn't steal so much as it seemed at trial, that could matter. But as the article details, it seems t
by SpicyLemonZest 3y ago
Depends on why they're made whole. If it turns out that he didn't steal so much as it seemed at trial, that could matter. But as the article details, it seems to be more about two exogenous things:
* Some FTX investments, in particular Anthropic, have done very well over the past 2 years.
* Due to the mechanics of bankruptcy law, FTX's cryptocurrency liabilities were effectively converted to dollar liabilities when they filed, meaning that all crypto price increases since then are free money for the asset recovery. (You could reasonably frame this as bankruptcy victims not really being made whole, since their claims are substantially less than what FTX would owe them if it were still running, although there's good reasons it works this way.)