FTXRecovery
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FTX Victims Seek Return of $8 Billion in Assets
#FTX #FTXRecovery $FTT
Attorneys for FTX bankruptcy victims are pushing for the failed crypto exchange's forfeited assets, worth around $8 billion, to be returned to customers, not absorbed into the bankruptcy estate. This plea was made in a U.S. District Court filing in New York.
Reorganization Plan Sparks Outrage
FTX's proposed reorganization plan, offering 98% of creditors 118% of their claims in cash within 60 days, has angered customers. They couldn't benefit from rising cryptocurrency prices while their funds were tied up.
Unfair Valuation Claims
Lawyers argue that valuing customer claims based on depressed prices during the "crypto winter" is unfair. Since then, Solana's price has increased ninefold and Bitcoin's value has quadrupled.
Customer Grievances and SBF's Role
Lawyers Adam Moskowitz and David Boies say customers feel "aggrieved and robbed," viewing the process as a "second act of theft." Former CEO Sam Bankman-Fried (SBF) was convicted of fraud, sentenced to 25 years, and ordered to forfeit $11 billion. The filing claims SBF's crimes left customers without their crypto investments.
Bankruptcy Code and Prioritization
The bankruptcy code prioritizes certain creditors, placing FTX’s FTT token holders near the bottom, making compensation unlikely for them.
Ongoing Uncertainty
Complete accounting hasn't been done yet, but Moskowitz estimates damages over $8 billion. The fluctuating value of cryptocurrencies adds to the uncertainty.
FTX Victims Seek Return of $8 Billion in Assets
#FTX #FTXRecovery $FTT
Attorneys for FTX bankruptcy victims are pushing for the failed crypto exchange's forfeited assets, worth around $8 billion, to be returned to customers, not absorbed into the bankruptcy estate. This plea was made in a U.S. District Court filing in New York.
Reorganization Plan Sparks Outrage
FTX's proposed reorganization plan, offering 98% of creditors 118% of their claims in cash within 60 days, has angered customers. They couldn't benefit from rising cryptocurrency prices while their funds were tied up.
Unfair Valuation Claims
Lawyers argue that valuing customer claims based on depressed prices during the "crypto winter" is unfair. Since then, Solana's price has increased ninefold and Bitcoin's value has quadrupled.
Customer Grievances and SBF's Role
Lawyers Adam Moskowitz and David Boies say customers feel "aggrieved and robbed," viewing the process as a "second act of theft." Former CEO Sam Bankman-Fried (SBF) was convicted of fraud, sentenced to 25 years, and ordered to forfeit $11 billion. The filing claims SBF's crimes left customers without their crypto investments.
Bankruptcy Code and Prioritization
The bankruptcy code prioritizes certain creditors, placing FTX’s FTT token holders near the bottom, making compensation unlikely for them.
Ongoing Uncertainty
Complete accounting hasn't been done yet, but Moskowitz estimates damages over $8 billion. The fluctuating value of cryptocurrencies adds to the uncertainty.
FTX is Making Waves: Debts Being Repaid, Tokens Set to Skyrocket by 50-150x!
The buzz around FTX’s progress in repaying its debts to customers is electrifying the crypto world. With significant strides being made, affected tokens are poised for explosive growth. Here are the tokens you need to keep an eye on:
1. $ALEPH (Cross-chain Storage Network): ALEPH, heavily impacted by FTX’s downfall, is on the verge of a comeback. As debt repayment accelerates, ALEPH is set for a promising recovery.
2. $USTC (Terra’s Stablecoin): USTC faced immense challenges during FTX’s collapse, but debt resolution is injecting new hope. A reversal of recent downturns could be on the horizon, bringing fresh optimism to investors.
3. $FIDA (Bonfida): FIDA struggled amidst the chaos, but with the debt resolution in sight, it’s ready to soar. This token is gearing up for a major rally, offering exciting investment opportunities.
4. $FTT (FTX Token): FTT, the heart of FTX, experienced a dramatic plunge. Now, with debt repayments in motion, FTT is set to bounce back, potentially delivering significant gains.
5. $LUNA (Terra): LUNA, integral to the Terra ecosystem, benefits from enhanced liquidity through its FTX listing. Coupled with backing from Alameda Research, LUNA’s recovery prospects are looking brighter than ever.
FTX’s restructuring aims to tackle an $11 billion debt, with asset sales potentially hitting $16.3 billion. This could spell massive benefits for affected tokens. Stay tuned—these potential gains could be just the beginning!#FTT🔥🔥 #FTXRecovery #LUNA🔥🔥🔥 #USTC/USDT
The buzz around FTX’s progress in repaying its debts to customers is electrifying the crypto world. With significant strides being made, affected tokens are poised for explosive growth. Here are the tokens you need to keep an eye on:
1. $ALEPH (Cross-chain Storage Network): ALEPH, heavily impacted by FTX’s downfall, is on the verge of a comeback. As debt repayment accelerates, ALEPH is set for a promising recovery.
2. $USTC (Terra’s Stablecoin): USTC faced immense challenges during FTX’s collapse, but debt resolution is injecting new hope. A reversal of recent downturns could be on the horizon, bringing fresh optimism to investors.
3. $FIDA (Bonfida): FIDA struggled amidst the chaos, but with the debt resolution in sight, it’s ready to soar. This token is gearing up for a major rally, offering exciting investment opportunities.
4. $FTT (FTX Token): FTT, the heart of FTX, experienced a dramatic plunge. Now, with debt repayments in motion, FTT is set to bounce back, potentially delivering significant gains.
5. $LUNA (Terra): LUNA, integral to the Terra ecosystem, benefits from enhanced liquidity through its FTX listing. Coupled with backing from Alameda Research, LUNA’s recovery prospects are looking brighter than ever.
FTX’s restructuring aims to tackle an $11 billion debt, with asset sales potentially hitting $16.3 billion. This could spell massive benefits for affected tokens. Stay tuned—these potential gains could be just the beginning!#FTT🔥🔥 #FTXRecovery #LUNA🔥🔥🔥 #USTC/USDT
1. Pantera Raising Funds to Buy Solana Holding From FTX
Image Concept: A stylized panther collecting glowing Solana (SOL) tokens amidst digital ruins or fragments representing the collapse of FTX. The image should have a hopeful aura, emphasizing strategic acquisition in adversity.
Post Text: Dive into Pantera Capital's strategic maneuver as they raise funds to secure a significant Solana token trove from FTX's estate. A 39% discount opportunity beckons—are you ready for the long haul?
#PanteraCapital #SolanaSOL #FTXRecovery #CryptoInvestment #BlockchainNews
Image Concept: A stylized panther collecting glowing Solana (SOL) tokens amidst digital ruins or fragments representing the collapse of FTX. The image should have a hopeful aura, emphasizing strategic acquisition in adversity.
Post Text: Dive into Pantera Capital's strategic maneuver as they raise funds to secure a significant Solana token trove from FTX's estate. A 39% discount opportunity beckons—are you ready for the long haul?
#PanteraCapital #SolanaSOL #FTXRecovery #CryptoInvestment #BlockchainNews
Ikigai Asset Management's Travis Kling suggests Google's $2 billion investment in Anthropic may aid FTX's bankruptcy recovery, with a potential 1:1 asset-to-deposit ratio. 🤝💼 #FTXRecovery #CryptoNews
⚠️ Scam Alert! ⚠️
🚨 FTX and BlockFi users are being targeted by fake emails.✉️
✅ Millions Lost: Scammers have stolen over $7 million in crypto and NFTs. 💸
✅ How It Happened: The scammers used a compromised email list from a recent data breach. 📧➡️🔓
✅ Stay Safe: Always double-check official sources before responding to financial emails. ✅
✅ No Quick Fixes: Remember, FTX’s restructuring is still pending, so be wary of promises for quick withdrawals. 🚫💨
#ScamAlert #scam #FTXRecovery #alert
$FTT $FLOKI $BONK
🚨 FTX and BlockFi users are being targeted by fake emails.✉️
✅ Millions Lost: Scammers have stolen over $7 million in crypto and NFTs. 💸
✅ How It Happened: The scammers used a compromised email list from a recent data breach. 📧➡️🔓
✅ Stay Safe: Always double-check official sources before responding to financial emails. ✅
✅ No Quick Fixes: Remember, FTX’s restructuring is still pending, so be wary of promises for quick withdrawals. 🚫💨
#ScamAlert #scam #FTXRecovery #alert
$FTT $FLOKI $BONK
