Shubham Hemant Gaikwad
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FTX Creditors Finally Getting Paid!
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
$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
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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