FTX customers finally getting paid back - but at 2022 prices WTF

btcinfo891 said:
Been watching this unfold since the bankruptcy filing. The court approved using petition date values - standard bankruptcy procedure tbh. But yeah, missing out on a 6x gain hurts.
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standard my ass. if they can recover 16 billion they can pay current prices. this is just lawyers getting rich while we get screwed
 
Quick breakdown of what's happening:
  1. Court uses November 11, 2022 prices (bankruptcy petition date)
  2. You get 119% of that value
  3. BTC was ~$17k then vs $105k+ now
  4. First payouts ($1.2B) going to claims under $50k
  5. 50% of recovery funds held back for disputed claims
This is standard bankruptcy law, not FTX being evil
 
Btcalysis said:
Analyzed the actual numbers:
  • - Total recovery: $16B
  • - Claims under $50k: ~98% of creditors
  • - Average claim in this group: ~$4,200
  • - Solana holdings being liquidated March 1st (11.2M SOL)
The SOL dump is gonna crash that market hard.
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wait they're dumping 11 million sol?? when exactly? want to short that shit
 
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