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A Complex Recovery Process
The FTX bankruptcy, triggered by fraud and mismanagement, left creditors grappling with losses since November 2022. The Recovery Trust has gathered $11.4 billion in cash to address claims, with payouts calculated using cryptocurrency values from the collapse date, when Bitcoin was around $20,000. This has sparked frustration among creditors, as Bitcoinโs value has surged over 390% since then. Despite this, the structured repayment plan prioritizes smaller claims first, with larger creditors, including institutions, now receiving funds. The process is complicated by a massive volume of claims, including potentially fraudulent ones.$WCT