Did FTX Customers Get SCREWED? #ftx #fraud #sbf #allinpodcast
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Episode Description
Full episode: https://youtu.be/z3Zzlgo-xZM
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Brief Summary
FTX depositors are repaid in fixed USD amounts, missing out on crypto price recoveries since bankruptcy.
Key points
- FTX Depositors Paid Back in US Dollars. Depositors are receiving repayments in US dollars based on the price of their tokens at bankruptcy.
Transcript
FTX depositors are getting paid back in US Dollars not the crypto that dollar amount is based on the price of their tokens at the bankruptcy date the bankruptcy date was November 11th in 2022 super important because the report that started the run on FTX was published in November 2nd was a couple of days in between those two dates and a bunch of crypto plummeted salana drop 50% between November 5th and November 11th that's just one example but since then salana has been up 11x bitcoin's up 4X ethereum doubled so if you one of these depositors you missed that runup the trustee has been selling the tokens post runup the point is that he's selling tokens at current prices call it
188 and then using that to pay off depositors at $16 so the only reason the depositors have been quote unquote made whole is because they're getting the benefit of this runup but they're not paying them back at the price of their Salon today they're paying them at this price that got fixed at the time of the bankruptcy
