Big news, FTX users are finally seeing refunds hit their accounts! 🎉💸 According to Reddit reports, creditors with claims under $50K are getting their money back via Kraken.

$BTC

💰 Where’s the Money Going?

🔹 So far, $800M out of a $1.2B payout has been sent ✅

🔹 162,000 accounts paid—but that’s just 35% of the 460,000 claims 🤯

🔹 Split 50/50: Half goes to OG FTX users, half to debt buyers who bought claims at a discount 💸🔄


💳 How’s the Payment Happening?

🔹 Funds are moving through BitGo & Kraken 💼

🔹 Expect 1-3 business days for transfers ⏳

🔹 FTX set aside $7B for this phase, aiming for a $17B total refund 💰🚀


📈 FTX Recovery Rates

✅ Claims add up to $11.75B

✅ 100-142% recovery for secured/customer claims 💎

✅ 123-138% overall recovery rates—way higher than expected! 🔥


👀 Market Impact?

🔹 Some creditors cashing out ASAP 🏃💨

🔹 Others holding or reinvesting—could shake up the market! 📉📈

🔹 FTT token on watch as funds move 🔍👀


⚠️ Lesson Learned? Self-custody is king! 👑🔐

Crypto advocate Mr. Purple warns: "Keeping funds on CEXs is a risk. Self-custody is the only real ownership!" 🚀🔒


🔥 And what about SBF?

🔹 Sam Bankman-Fried got 25 years in prison in March 2024 ⚖️🔒

🔹 His lawyers are appealing, and his parents want Trump to pardon him 😳

🔹 This comes after Trump already pardoned Silk Road’s Ross Ulbricht 🤯


🚀 Crazy times for crypto! Will FTX creditors reinvest or walk away forever? 🤔💸


#FTXRefunds #CryptoRecovery #FTXScandal #HODL #NotYourKeysNotYourCoins