( Good News )

Dead Coins Keep Walking - Despite #FTX’s Collapse, #FTT’s $535M Market Cap Highlights Crypto Absurdity

#FTT🔥🔥 🔥🔥 #Ftx❓ ❓ #Write&Earn $FTT

🔵 FTX Recovery Update 🔵

🔹 Good News for FTX Customers
Nearly all FTX customers are set to receive their funds back, with interest! After the collapse in November 2022, FTX announced that between $14.5 billion and $16.3 billion would be distributed back to users.

🔹 Reimbursement Details
- Customers and creditors owed $50,000 or less will receive about 118% of their claim.
- This covers approximately 98% of #Ftx❓ customers.
- After full claim payments, additional interest may be paid if funds are still available.

🔹 Note on Crypto Value
- Customers will be paid back the cash value of their cryptocurrency #assets from the time of FTX’s collapse, plus some interest.
- However, this might be less than the current market value, as crypto prices have surged since then.

🔹 Next Steps
The reimbursement plan is awaiting final approval in U.S. #bankruptcy Court.
#ETFvsBTC #BTC

Trading rice and a tablet without the Internet: Sam Bankman-Fried on life in prison

👀 In a recent interview from Brooklyn Detention Center, FTX founder #SamBankman-Fried (SBF), currently serving a 25-year sentence, claims he's adapting well.

🍚 He's trading rice, maintaining his vegan diet, and engaging in prison life while awaiting a July appeal. Despite the significant lifestyle change, SBF, who's lost 11 kg, asserts he's in good spirits, even finding prison offers unique arbitrage opportunities.

🙈#Ftx❓ founder reflects on the past, suggesting negligence as his downfall, not criminal actions, and still disputes his criminal responsibility for FTX's collapse.
#ETFvsBTC #BTC #BinanceLaunchpool

BlockFi has announced the closure of its platform

🔒 Cryptocurrency lender BlockFi has announced that it will be shutting down its web platform in May 2024. The exact closure date will be specified later.

✔️In November 2022, the company filed for #bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. This occurred approximately two weeks after the collapse of #Ftx❓ and Alameda Research. Previously, BlockFi acknowledged that the #exchange and its subsidiary had outstanding obligations to the company.
#ETFvsBTC #BTC

FTX Customers Poised to Recover All Funds Lost in Collapse

Bankruptcy lawyers for FTX said that customers of the cryptocurrency exchange were set to get all their money back, plus interest.

#FTXTrial #ETHETFS #BTC

$BTC
#Ftx❓

Peter Schiff Names New Bearish Target for Bitcoin Price

Peter Schiff believes that the price of Bitcoin is going to slide to $54,000 in the short term

Peter Schiff has stated that the $54,000 level is going to be the next downside objective for Bitcoin, the leading cryptocurrency. 

According to the gold bug, Bitcoin has formed a bearish head and shoulders pattern, with the "neckline" of the pattern being just below $57,000. 

CoinGecko data shows that the flagship cryptocurrency is currently trading at $57,770 after previously sinking to an intraday low of $56,637. 

Bitcoin has slumped more than 21% from its record peak of $73,737, which was achieved on March 14. 

The cryptocurrency has been under strong bearish pressure over the past week due to disastrous exchange-traded fund outflows. In April, Schiff predicted that ETF issuers would end up facing a "legal nightmare" due to losses. 

On the macro front, recent statements made by Federal Reserve Chairman Jerome Powell briefly managed to push the Bitcoin price above the $59,000 level. 

#ETHETFS #Ftx❓ #BTC
$BTC

FTX plans to return users their funds plus compensation.

😎 FTX has proposed a new reorganization plan, under which 98% of its creditors will receive 118% of their funds.

The remaining creditors will receive 100% refund plus 9% compensation for ⏳ "time value of investments."

👀 This plan must be approved by the court. If approved, the funds will be distributed to users within 60 days.

After the sale of all #assets , the exchange will have up to $16.3 billion, and #Ftx❓ owes clients about $11 billion.
#CryptoWatchMay2024 #ETHETFS #BTC

What Do You Think About #Ftx❓ ❓❓

Exchange will open or will not open 🤔🤔🤔

Make Comment 👇👇👇

$FTT $SOL $RAY
#TrendingTopic #Write2Earn #ftt

$FTT tighten your patience belts
ftt is only 28% bullish.

Support
1.95 moderate
1.80 strong
1.70 very strong

Resistance
2.20
2.30
2.40

Bullish- 28
Bearish 72
F&G index- Greed
Volatility- 13.3
Sentiment- Bearish.
#HotTrends #follow4more #FTT🔥🔥 #Ftx❓

FTX, a cryptocurrency exchange that collapsed in 2022, is at the center of a legal battle as current CEO John J. Ray III disputes claims made by his predecessor, Sam Bankman-Fried. Bankman-Fried had asserted that customers suffered no financial losses due to the exchange's collapse, but Ray refutes this, calling the claims "delusional" and "false."

Ray emphasized that when he took over as CEO, the exchange had only 105 bitcoins left, a fraction of what customers were owed. While some assets were recovered, significant amounts, including funds spent on investments and bribes, remain unrecovered.

Despite efforts to repay customers, many remain dissatisfied with the valuations of their funds, as they will be refunded based on bankruptcy-time values rather than current, higher values. Ray stressed that customers, creditors, and stockholders have all suffered due to the collapse.
Bankman-Fried is facing sentencing on March 28, with prosecutors recommending a lengthy prison term. The dispute underscores the complexities and consequences of cryptocurrency exchange failures.
#BOME #crypro #WIF #FTXScamAlert #Ftx❓

FTX plans to pay back customers in full BUT won't reboot the exchange 🫡

As you can see from the FTT chart, positive news came out first, followed immediately by negative news

FTX, the bankrupt crypto exchange that was run by Sam Bankman-Fried, said it expects to fully repay its customers, according to a court hearing ⚖️

Collapsed cryptocurrency exchange FTX will not be restarted, the firm’s bankruptcy lawyers said Wednesday in a court hearing, due to a lack of interest from buyers 💸
#Write2Earn #TradeNTell #Ftx❓

Is 25 years enough? #Ftx❓ #SamBankman-Fried What's your take on it

Ahead of Sam Bankman-Fried's sentencing, FTX users have submitted impact statements detailing the ramifications of the exchange's collapse. These statements illuminate the extensive fallout experienced by users, highlighting financial losses, disrupted trading activities, and shattered trust in the platform. The impact statements provide crucial insights into the real-world consequences of FTX's demise, further underscoring the significance of the case and the need for accountability in the cryptocurrency industry. #BinanceLaunchpool #BullorBear #FTXTrial #Ftx❓ #SHIB

It is predicted that ftt will rise soon and ftx will reopen. $FTT #Ftx❓

"FTX founder Sam Bankman-Fried Punishment and Fine":🫣
KEY POINTS🔥🔥
🔴 FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for the securities fraud conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research.
🟠 Bankman-Fried also was ordered to pay $11 billion in forfeiture at the sentencing in Manhattan federal court.
🔵 "There is a risk that this man will be in position to do something very bad in the future," Judge Lewis Kaplan said.
#SamBankman-Fried #sbf #Ftx❓ #write2earn #SambankmanFried

International Media Predicts Full Recovery for FTX Australia Creditors
Quoting a recent article from the Australian Financial Review, Bitcoin.com reports that creditors of FTX Australia are anticipated to recover their entire damages, ensuring a complete reimbursement. The Supreme Court of Victoria, Australia, recently decreed that the 747 individuals who requested Australian dollar withdrawals from FTX could expect full repayment, providing sufficient funds for the compensations. Kris Hansen, the attorney leading the FTX creditors' committee, foresaw that FTX would determine the compensation amount based on the cryptocurrency prices at the time of bankruptcy filing, thereby remaining unaffected by recent crypto market upswings.
#Ftx❓ #FTT/USDT

WEIRD NEWS🦹

#sbf jail photos surface, former inmate says he is 'more gangster' than 6ix9ine

💡 Have you watched those interviews to psychopaths' in jails?... ok... 🤣

#Ftx❓ #FTXScamAlert

🚀 Terra Luna Classic (LUNC) and USTC Surge:
Co-Founder Do Kwon Sparks Momentum! 💎
In a crypto symphony orchestrated by Terra Luna Classic, LUNC and USTC take center stage! 🌙
📈 20% and 12% Rally: These tokens defy gravity, soaring to new heights post the release of co-founder Do Kwon. The crypto community buzzes with excitement as trading volumes surge.
🔮 Upgrades Illuminate the Path: Terra Luna Classic’s ecosystem glows with promise. Upgrades whisper of a bright future, where decentralized dreams meet reality.
Stay tuned—the classic becomes legendary! 🌟🔥🚀
#HotTrends #BNBChainSunset #Ftx❓ #LUNC. $LUNC $LUNA $BTC #CFX

BitMEX co-founder Arthur Hayes has expressed his views on Solana (SOL), indicating a potential return to its original position. Posting a chart illustrating SOL price fluctuations, Hayes suggested, “I think it’s time to get back on track.” In light of his perspective on Bitcoin's correction bottoming out in the $30,000-$35,000 range, Hayes has taken strategic positions, including purchasing a put option with a $35,000 strike price expiring on March 29. Simultaneously, he initiated a weak stop loss for his Solana holdings. Hayes disclosed the closure of his SOL and BONK positions, with plans to resume buying dips, incorporating Solana and WIF, if BTC drops below $35,000. As of the latest data from CoinMarketCap, SOL is currently trading at $97.24, reflecting a 3.70% decline.
#BITMEX #Ftx❓ #FTT/USDT