The statement is misleading. People are making 18% interest on the value of Bitcoin et al. at the value of 2022, which is less than $20k. Now that is $60k, back to the value levels of 2021. Thus, the only reason there is interest is that the cryptocurrencies found gained back their value, and the bankruptcy court gets to consider the values when the bankruptcy started in 2022, not current/before 2022 values.
I keep seeing this "headline" and it is the very definition of fake news. If you held SOL on FTX they will pay you at the Nov 2022 prices which was under 9 per SOL. It is trading at ~150 now.
Bitcoin was trading at 17k, it is now 62k.
FTX creditors didn't hold US dollars. They held crypto. A good chunk didn't even buy any of the crypto WITH US dollars. Many are in countries that US dollars is not legal tender.
I’ve been getting legal mails for the entire process since I had like 0.000000000003 cents in a wallet called blockfolio that was acquired by FTX which was pretty funny to follow
eftychis ·75 days ago
Show replies
kwar13 ·74 days ago
Bitcoin was trading at 17k, it is now 62k.
FTX creditors didn't hold US dollars. They held crypto. A good chunk didn't even buy any of the crypto WITH US dollars. Many are in countries that US dollars is not legal tender.
Guess what they're getting back for their claims?
You guessed it. US Dollars.
Show replies
Frummy ·74 days ago
linotype ·75 days ago
https://www.youtube.com/watch?v=TPFiRlZaclQ
Show replies
tiffanyh ·75 days ago
Show replies