Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Baofeng on January 05, 2025, 04:25:46 AM
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FTX Repayments Process is Now Active With Users to Recieve Funds in 60 Days
According to FTX, customers who have submitted valid claims may see their reimbursements processed within 60 days. The initial group to receive repayments includes claimants seeking $50,000 or less, as outlined in the bankruptcy plan approved in October.
https://beincrypto.com/ftx-repayments-plan-is-active/
So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
it’s better than nothing i am sure the victims would forever think of the what if’s but it’s not the end of the world they still could have accumulated more bitcoins even if it’s just a little amount and held it some victims really suffered a lot so i hope this reimbursement helps them to get back on their feet
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It is good that they will finally get their money even if it is less than its real value if they keep their assets to this time, but in the end it is better than not getting anything.
Certainly, many of them are not happy with this distribution, but they cannot do anything that will accept compensation against their will. But also if they had taken it previously, they could sell it at the first height and they did not be patient until time, or perhaps they lost it in other deals, there are many possibilities for that they should be satisfied with their luck.
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If you're to speculate, how much of the projected $16 billion will be reinvested to the crypto market? At least half of it? There's probably a large chunk that belongs to newbie traders caught in the bankruptcy and I doubt that majority of them would buy coins/tokens again.
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congratulations to those guys who will receive their funds back. they delayed giving it back, if it were done earlier, these guys already have made much more money already.
it gives us the idea that they are not willing to plunge the market down that they re paying partial. this is a robbery but because they are robbing the rich men. a lot of the poor will cheer for this and this will not be the cause of the bear market still. its possible that the bull run shall continue.
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The only 'good' think about this is that creditors get to finally get their money back, and under two years, which is short compared to a case like mt. Gox for example. However, they are to get the dollar-value of what they lost, and for some of them who held BTC, they will feel sad because BTC has really pumped since then.
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Finally!
It's taken a while but it looks like the FTX drama is coming to an end, at least for most users
I have an amount to receive, and I've already done the whole process, including linking FTX to an exchange (Kraken and Bitgo)
If I have any news I'll post it here, but I'm looking forward to getting back the money I lost there
Let's see if they'll only pay the amount stated in the lawsuit, or if they'll pay a bonus they promised for getting back more than they owed
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Compared to Mt.GOX, two years seems like a very quick period and it is better to get compensation in dollars in a bull market than to get nothing. Let's hope the news is true and we see an end to this story before the end of 2025, but despite everything, the long-term damage cannot be easily compensated.
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The only 'good' think about this is that creditors get to finally get their money back, and under two years, which is short compared to a case like mt. Gox for example. However, they are to get the dollar-value of what they lost, and for some of them who held BTC, they will feel sad because BTC has really pumped since then.
This is completely sad for those that were holding Bitcoin and some altcoins looking at current bullish momentum, a rally that has lasted for months. The dollar value of what they had lost is very poor, Honestly the case of MtGox exchange is even better, though it took some time to be settled by the team.
However, it is still better at least, the FTX exchange has shown some seriousness, a hope to get back what was lost, which is better than nothing. Kudos to all concerned, especially those who fought to make sure that everything is resolved.
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Let's all be glad that people who got victimized by FTX will soon be getting something out of their investments in the ill-fated crypto exchange platform. At least they can get some refunds unlike many other scams where the people behind the project just left to the Bahamas without even saying goodbye. Now, the very sad implosion of FTX is a big reminder to all of us to never trust anybody especially a guy with curl hair and loved by the mainstream media as well as politicians from both sides of the aisle. Let's all hope that there will be no next Sam in the next few years.
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This is completely sad for those that were holding Bitcoin and some altcoins looking at current bullish momentum, a rally that has lasted for months. The dollar value of what they had lost is very poor, Honestly the case of MtGox exchange is even better, though it took some time to be settled by the team.
If it is possible to get the compensation in dollars now in Bitcoin or wait for several years with the possibility of getting it in Bitcoin, then it is better to get it in dollars and invest it in Bitcoin.
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This is completely sad for those that were holding Bitcoin and some altcoins looking at current bullish momentum, a rally that has lasted for months. The dollar value of what they had lost is very poor, Honestly the case of MtGox exchange is even better, though it took some time to be settled by the team.
If it is possible to get the compensation in dollars now in Bitcoin or wait for several years with the possibility of getting it in Bitcoin, then it is better to get it in dollars and invest it in Bitcoin.
At the time the exchange stopped, I had a bit of BTC, a bit of SOL and a bit of USDT
The fair thing was for FTX to pay out the cryptos to everyone, exactly as it had at the time of the shutdown, but they did the math at the dollar value of the time, which was totally unfair to users
However, I'll be honest, it's better to get paid now in dollars than to be in great uncertainty and perhaps get paid several years from now, as was the case with Mtgox
As time goes by, the costs of justice and of lawyers, accountants and all the professionals involved will increase considerably, and the whole process will become more expensive
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
They will not receive the amount of money valued when this event took place they are going to receive the returns on their relevant crypto currencies too. All these years they made a profit but the money trap is worse because a smart trader could have made more than what they are getting now.
I still think it is good that they are at least getting their funds back unlike wazirx exchange where they openly said we would not give some part of your payments back lost in the hack. This is a good news for the small investors they can still benefit from the current market and with better strategic investments they can make profit.
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
They will not receive the amount of money valued when this event took place they are going to receive the returns on their relevant crypto currencies too. All these years they made a profit but the money trap is worse because a smart trader could have made more than what they are getting now.
Yeah, I forgot to clear that up, obviously they will not received the full amount of money valued during the collapsed. I know it's very unfortunate for the victims. But at least they will get some money back and maybe start all over again.
Same thing that happen to the historic Mt. Gox collapsed as well, until know we are still being haunted by that ghost. But it was slowly being settled as well in the last year or so. At least there is direction here.
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Yeah, I forgot to clear that up, obviously they will not received the full amount of money valued during the collapsed. I know it's very unfortunate for the victims. But at least they will get some money back and maybe start all over again.
We will receive the value of the cryptos we owned during the exchange's collapse, which was in November 2022
If I remember correctly Bitcoin was worth just over 16k, and SOL was worth 17 dollars
So for example, you had 1 BTC and 1 SOL on FTX, you'll get around 16,017.00 USD
I don't remember the exact price of the assets, but we had to accept these values when we accepted the payment plan
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I know payments are to be processed within 60 days, however, the start date was set on the 3rd of this month, that is a few days ago. So i want to ask, is the repayment on, ftx creditors here can tell us if they have received anything yet, i hope for the sake of the creditors that they do not go on and postpone the date.
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If you're to speculate, how much of the projected $16 billion will be reinvested to the crypto market? At least half of it? There's probably a large chunk that belongs to newbie traders caught in the bankruptcy and I doubt that majority of them would buy coins/tokens again.
when it comes to incident like the FTX exchange saga, newbies traders may not have the chunks of the money involved because newbies might not take high risks trading especially trading on the future/margin market options. It is probably the most experienced traders on the exchange that might have suffered the most on the FTX crashed because many of them were engaged on future/margin with leverages.
Again, i think investors on FTX exchange's native token could also be the most affected, many investors that were holding the coin completely lost all, thank to the management for this payment plans.
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
Another bad news is, there is a pardon coming However, there is speculation about a potential presidential pardon for Bankman-Fried. This is due to his role as a major donor to the Democratic Party during the 2020 election.
I feel that this is not right; it sends a message to scammers that its ok to scam as long as you donate part of it to the election campaign; it will hurt the campaign to get rid of the industry of scammers like Kwon.
The industry will learn a lot from this; hopefully, there will never be another Kwon.
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If you're to speculate, how much of the projected $16 billion will be reinvested to the crypto market? At least half of it? There's probably a large chunk that belongs to newbie traders caught in the bankruptcy and I doubt that majority of them would buy coins/tokens again.
Yeah, this is also what I expect. The victims are all crypto investors and they have realized the opportunity they missed by not having capital to invest in crypto for over 2 years. I think they will tend to use the compensation money to reinvest in this crypto market, and maybe they won't buy FTT tokens ^^
$16B is a large amount of money, if only 20%-50% of this money flows into the market, it is enough to create price increases and stimulate investor FOMO. It's interesting that the payment event will take place at a very hot time of the market in Q1 & Q2 2025, it seems like this is also part of the market manipulation plan that the whales are doing. I even think about Sam B.F being released early in January to pump this news to crypto community!
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
I thought those who have submitted their valid claims under $50k have already received their funds, but I was wrong. I am still in doubt in which currency they will reimburse people, as if they will refund in fiat then it will be good for the whole market as in 60 days we can see another peak from BTC.
If till then people receive their funds from FTX, they can join that 2nd peak and can make some profit although they are already in the profit according to some members.
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I am still in doubt in which currency they will reimburse people,
Repayments are in fiat, they are getting the dollar-value of their deposits as at the time the exchange collapsed.
If till then people receive their funds from FTX, they can join that 2nd peak and can make some profit although they are already in the profit according to some members.
How can they be in profit when they are getting the dollar-value of their funds as at when the exchange collapsed, for those holding BTC, it has risen to $100k, that is a loss for the creditors.
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Hey. At least they are getting their money back.
Imagine if they got no money, and lost all of it to a black hole while Bitcoin rallied to $100k.
Many of these guys would be devastated through no fault of their own (other than keeping their coins on an exchange of course, but we already know that),
If that were me, I'd rather have a bitcoin at $20K worth than no bitcoins at all.
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I thought those who have submitted their valid claims under $50k have already received their funds, but I was wrong. I am still in doubt in which currency they will reimburse people, as if they will refund in fiat then it will be good for the whole market as in 60 days we can see another peak from BTC.
If till then people receive their funds from FTX, they can join that 2nd peak and can make some profit although they are already in the profit according to some members.
I have less than 50k USD to receive, but I haven't received anything yet. I still have no information from anyone who has received it
Payments will be made in dollars, USD on Kraken or Bitgo exchanges
I believe there will be a third exchange for users in countries where these two exchanges cannot operate
If anyone has any questions, you can ask me, I was involved in the whole process, I was affected and I'm part of a group of other people who were also affected
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
Well, that's better than having none in return. They might not get the whole 100% of what they invested or deposited on FTX and their exchange, but at least they will be reimbursed which is still a good thing... or is it?
I don't know how they will pay them or what crypto they will be using to pay them, but is there a chance that within the next 60 days, we might see a dump because these receivers might just sell their assets and have fiat in return? Anyway, it would be a good thing if there's anybody here that will have their money be reimbursed (although it's unfortunate that they lost it while investing on FTX).
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I have less than 50k USD to receive, but I haven't received anything yet. I still have no information from anyone who has received it
Payments will be made in dollars, USD on Kraken or Bitgo exchanges
I believe there will be a third exchange for users in countries where these two exchanges cannot operate
If anyone has any questions, you can ask me, I was involved in the whole process, I was affected and I'm part of a group of other people who were also affected
Sorry to hear that you lost your money and I hope you and all those victims receive their funds back soon well they have given a period in which they will start making the payments and once one or two people will receive the word will be out every where, are you connected to one or more people who also lost in this event, as a community (group) would be of a great help if they could talk to each other all of them.
I will keep you in mind, and I will ask question if have any thanks for this +1 for the info
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So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
It's unfortunate that many people loss money on this FTX exchange, I just think that all these talks are strategy for the organize team behind bankruptcy to make the victims relax and not worry about their money, they are definitely not getting back these money soon because it's require more legal process than the way it's, there could be some debate under the ground about the money distribution.
Another concern can also be how this distribution might cause fear in the market. Remember, Solana was one of the biggest asset that were lost during the time the exchange went down and imagine how Solana will tank if they hear about distribution and how the sol market will be diluted, similarly with other coins.
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If that were me, I'd rather have a bitcoin at $20K worth than no bitcoins at all.
That will surely be the case for everyone, won't it. The point is just that it would still cross the mind of anyone in this situation, they would calculate how much they would have made if their coins were stored in their self custodial wallet, but the mistake they made is that they stored it in a custodial service.
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Yeah, I forgot to clear that up, obviously they will not received the full amount of money valued during the collapsed. I know it's very unfortunate for the victims. But at least they will get some money back and maybe start all over again.
Same thing that happen to the historic Mt. Gox collapsed as well, until know we are still being haunted by that ghost. But it was slowly being settled as well in the last year or so. At least there is direction here.
They will receive full amount of money according to their announcement I did not mean to say they will receive lesser amount I was trying to explain they will receive more amount of money because their crypto tokens have grown from that time and according to many sources they will receive 2x of what they loss due to the market volatility.
How true is that can't be known until they start making these payments to the victims and if one of the victims here confirms that. They will not pay in crypto but in fiat therefore the chance of getting that 2x profit is too low.
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It's unfortunate that many people loss money on this FTX exchange, I just think that all these talks are strategy for the organize team behind bankruptcy to make the victims relax and not worry about their money, they are definitely not getting back these money soon because it's require more legal process than the way it's, there could be some debate under the ground about the money distribution.
Another concern can also be how this distribution might cause fear in the market. Remember, Solana was one of the biggest asset that were lost during the time the exchange went down and imagine how Solana will tank if they hear about distribution and how the sol market will be diluted, similarly with other coins.
The process has already taken place, and all the agreements have been made to pay the injured users
Now there's only one step left, which is to pay the users via Kraken and Bitgo
The vast majority of assets have already been sold for USD, and payments will be made in USD
There may be more SOL in FTX's possession, but this is separate from the process
They will receive full amount of money according to their announcement I did not mean to say they will receive lesser amount I was trying to explain they will receive more amount of money because their crypto tokens have grown from that time and according to many sources they will receive 2x of what they loss due to the market volatility.
How true is that can't be known until they start making these payments to the victims and if one of the victims here confirms that. They will not pay in crypto but in fiat therefore the chance of getting that 2x profit is too low.
We will not receive the cryptos we had at the time of the collapse
We will receive in USD, the equivalent of how much we had in crypto that month
BTC was worth around 16k USD at the time. So if I had 1 BTC, I would receive 16k USD according to the process.
There may be a bonus for monetary correction and interest, but it's not guaranteed yet.
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Yeah, I forgot to clear that up, obviously they will not received the full amount of money valued during the collapsed. I know it's very unfortunate for the victims. But at least they will get some money back and maybe start all over again.
Same thing that happen to the historic Mt. Gox collapsed as well, until know we are still being haunted by that ghost. But it was slowly being settled as well in the last year or so. At least there is direction here.
They will receive full amount of money according to their announcement I did not mean to say they will receive lesser amount I was trying to explain they will receive more amount of money because their crypto tokens have grown from that time and according to many sources they will receive 2x of what they loss due to the market volatility.
How true is that can't be known until they start making these payments to the victims and if one of the victims here confirms that. They will not pay in crypto but in fiat therefore the chance of getting that 2x profit is too low.
Let's see if there will be confirmations, not sure if there are some members here or in the other community that fell victims to the collapse. But it will be interesting to hear it though.
And as what others said, it's better to get something than nothing here. Still your money at the end of the end, and the person that did all of this is already behind bars and justice is being served here.
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Another bad news is, there is a pardon coming However, there is speculation about a potential presidential pardon for Bankman-Fried. This is due to his role as a major donor to the Democratic Party during the 2020 election.
There is no pardon coming, let's stop with the conspiracies, it was the same denial all these years
- he will never get arrested, he donated to the Democrats
- he got arrested but he will never be convicted
- he was convicted but he will appeal and walk free
- he didn't walk free but he will get at most a year or two
- he got 25 years but he is going to get pardoned
He donated 22 million to GOP candidates in 2022, not only to Democrats!
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We will not receive the cryptos we had at the time of the collapse
We will receive in USD, the equivalent of how much we had in crypto that month
BTC was worth around 16k USD at the time. So if I had 1 BTC, I would receive 16k USD according to the process.
There may be a bonus for monetary correction and interest, but it's not guaranteed yet.
But in many news they said the victims will receive 142 (https://financialpost.com/fp-finance/cryptocurrency/ftx-has-billions-more-than-needed-to-pay-bankruptcy-victims#) percent of what they lost so does it not mean they will receive their lost money and 142 additional on the full amount as in interest form?
If they will give you 16k dollars alone then that will be very bad they must give you more, price of BTC was really going for $16k when they filed for bankruptcy.
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We will not receive the cryptos we had at the time of the collapse
We will receive in USD, the equivalent of how much we had in crypto that month
BTC was worth around 16k USD at the time. So if I had 1 BTC, I would receive 16k USD according to the process.
There may be a bonus for monetary correction and interest, but it's not guaranteed yet.
But in many news they said the victims will receive 142 (https://financialpost.com/fp-finance/cryptocurrency/ftx-has-billions-more-than-needed-to-pay-bankruptcy-victims#) percent of what they lost so does it not mean they will receive their lost money and 142 additional on the full amount as in interest form?
If they will give you 16k dollars alone then that will be very bad they must give you more, price of BTC was really going for $16k when they filed for bankruptcy.
I believe that this 142% number is the amount they managed to recover in total when the courts went looking for all the money and crypto available from FTX, including investments
But the actual payout to users was calculated on the basis of the price of the cryptos at the time of the collapse
What I quoted was an example. If you had 1 Bitcoin and it was worth 16k USD, FTX would pay you 16k USD, they will not pay you 1 BTC or the value of the BTC right now
There are rumors that they may pay interest and monetary correction, but until the payments actually start, we still don't know for sure
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If they will give you 16k dollars alone then that will be very bad they must give you more, price of BTC was really going for $16k when they filed for bankruptcy.
That is what it is, creditors are going to receive the dollar-value of what they lost as at the time that the exchange collapsed. If they are to give them the dollar-vlaue of what their lost funds are right now, they will not be able to repay everybody, so creditors have to take what they are given and move on with their lives.
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Yesterday I saw this news: https://cointelegraph.com/news/ftx-distribute-1-2-b-trump-inauguration
It seems that payments will be able to start after January 20, which was the deadline that FTX proposed for claiming balances and payment / taxes information from users
Some news reports still say that payments will only start on February 25th and will last until March 4th.
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It seems that payments will be able to start after January 20, which was the deadline that FTX proposed for claiming balances and payment / taxes information from users
Some news reports still say that payments will only start on February 25th and will last until March 4th.
We will wait and see, for the sake of the creditors i hope that things go as planned. I read sometime ago that a lot of ftx creditors were having issues passing the pre-distribution requirements, i don't know if we have such people here, if we do, i will like to know if they were eventually successful in filling out their details and are now in line to receive repayment.
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FTX turns out to be more humane than MtGox...then what about the victims (FTX users) who have died during the period after the FTX hack?? do the victims' families also get their inheritance rights?
The only 'good' think about this is that creditors get to finally get their money back, and under two years, which is short compared to a case like mt. Gox for example. However, they are to get the dollar-value of what they lost, and for some of them who held BTC, they will feel sad because BTC has really pumped since then.
The victims get compensation in USD??? It would be fair if it was done at the time of the hacking, but if the person holding BTC in November 2022 gets compensation in USD, that would still be fair... but when the BTC assets owned by the victim experience growth or shrinkage, FTX should provide compensation in BTC as well... in essence, BTC and FIAT are something with different values....
Although this is better than nothing, many victims will of course regret what FTX experienced.
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We will wait and see, for the sake of the creditors i hope that things go as planned. I read sometime ago that a lot of ftx creditors were having issues passing the pre-distribution requirements, i don't know if we have such people here, if we do, i will like to know if they were eventually successful in filling out their details and are now in line to receive repayment.
He had to do KYC, so I think the biggest problem was this issue
But there was plenty of time, a few months, for everyone to get in touch with FTX and resolve the issues
The victims get compensation in USD??? It would be fair if it was done at the time of the hacking, but if the person holding BTC in November 2022 gets compensation in USD, that would still be fair... but when the BTC assets owned by the victim experience growth or shrinkage, FTX should provide compensation in BTC as well... in essence, BTC and FIAT are something with different values....
Although this is better than nothing, many victims will of course regret what FTX experienced.
Yes, we will receive it in USD via the exchange
As I said above, it will be based on the value in dollars at the time of the collapse, not in recent prices
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That is what it is, creditors are going to receive the dollar-value of what they lost as at the time that the exchange collapsed. If they are to give them the dollar-vlaue of what their lost funds are right now, they will not be able to repay everybody, so creditors have to take what they are given and move on with their lives.
Getting something than nothing is still better because there are other exchanges which just lied to their customers and stole their funds and Wazirx can be on of them due to few reasons. FTX victims at least will receive their money that they can use to invest again to make more money. When there will be more money into the hands of public they will invest them in crypto.
Demand will increase in few days if they will repay all those 16$ billion dollars then maybe all of it will flow into BTC which is huge amount.
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Although this is better than nothing, many victims will of course regret what FTX experienced.
Surely they regret storing their funds in ftx, though i know some of them have not learnt their lesson and probably still has funds in custodial services. The creditors have to take what they are given, they are even lucky that compensation is coming two years after the collapse and not like mt. Gox's creditors that had to wait for way longer.
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Big news, FTX sent this e-mail:
(https://i.ibb.co/hFLffqVn/Capturar-FTX.png) (https://ibb.co/0ymttwrW)
Looks like payments for most people will be in 10 days
Finally
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Yes, and those who are getting paid in Kraken /Bitgo. So they will have to registered on that two exchanges.
Official payment will be released by Feb 18. And I'm just thinking though, this could be a bullish sign for us as those who might received their money might not resell it?
Thoughts?
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Looks like payments for most people will be in 10 days
Finally
Yeah, finally, it is coming to an end and creditors are going to get back the dollar-value of what they lost. Congratulations to all the creditors out there.
Official payment will be released by Feb 18. And I'm just thinking though, this could be a bullish sign for us as those who might received their money might not resell it?
I don't know how many of the creditors are going to put the money they received back into the network. This will probably not have too much effect on the price of BTC.
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Official payment will be released by Feb 18. And I'm just thinking though, this could be a bullish sign for us as those who might received their money might not resell it?
Thoughts?
There will be 2 types of investors regarding this one.
1. One are those investors who will sell their assets as soon as they receive it because they got traumatized of what happened with FTX that they think that it will happen with them again. Can't blame them though, and if I'm on their situation, I might quit investing into crypto as well... or at least store my assets on these exchanges.
2. There will also be investors that will just hold their assets and will wait for some time and then will sell all of their assets. These are the ones that are a bit more knowledgeable, and they believe that the market can still pump even more since we are in a bull run.
Will this be bullish sign? I don't know, but I'm leaning towards the fact that most of them will just sell their assets, but it will have little to no effect towards the market.
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I don't know how many of the creditors are going to put the money they received back into the network. This will probably not have too much effect on the price of BTC.
I have money to receive from FTX and I will use a small part to buy crypto
Most of it will go to DeFi, and maybe I'll withdraw a bit in fiat
All users under 50k USD will get paid in USD by Kraken or Bitgo (or a third option if it's not available in the user's country), so I think it will make it much easier for users to buy crypto
My opinion is that many will buy some crypto
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Official payment will be released by Feb 18. And I'm just thinking though, this could be a bullish sign for us as those who might received their money might not resell it?
People are getting paid in USD, not coins, and there will be no selling pressure on coins, it could be a buying spree but I am a bit pessimistic about that, remember those were people that got burned once on crypto, so I don't see them that keen to throw again money at it.
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A curiosity
Some users had a balance there in USDT or USDC or even BUSD, and these users will receive the total amount they had there plus a bonus of 9% per year, totaling almost 20% appreciation
These users will be the least affected
Those with SOL and BTC, on the other hand, have been hit hard
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I've just received this email:
(https://i.ibb.co/wNsg6dXB/Capturar.png) (https://ibb.co/Kjwhy5kb)
Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release :)
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I've just received this email:
(https://i.ibb.co/wNsg6dXB/Capturar.png) (https://ibb.co/Kjwhy5kb)
Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release :)
Good luck.
Hope it is alot for you
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Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release :)
This is good news for the 'convenience class' creditors, that is those who lost deposits of $50k or less, they said repayments would only take 3 business days from the 18th, so that is good news as you guys are going to get your money very soon. After that is completed, i am sure they would move over to other 'class' of creditors.
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Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.
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Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.
I hope you will receive your assets soon, whether in the form of $ or stablecoins. A little is better than nothing, if you held ETH at the time of the crash, you can now buy back that same amount of ETH because the ETH price is in a similar price zone ^^
I'm quite curious about your plans for the compensation money, will you leave the crypto market forever? Will you wait for the next cycle? Or will you reinvest in the crypto market right now to not miss this 2025-bullrun?
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Huh! This has taken so much time to get to this stage.
Yeah it took sometime, but compared to similar cases, i.e. mt.gox, then this one was quick.
Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars.
They are starting with creditors of claims $50k and below, and they said they will take care of that in three business days, so after that other creditors will follow.
I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.
Sorry to hear that, if you didn't complete kyc in the customer claim portal, there is no way you're getting your money back.
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Good luck.
Hope it is alot for you
It's not that much money, but it's going to make a difference to me hehehe, and it's at a good time.
Thank you
Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.
Sorry to hear that, but what's the problem you faced to claim your money?
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FTX Repayments Process is Now Active With Users to Recieve Funds in 60 Days
According to FTX, customers who have submitted valid claims may see their reimbursements processed within 60 days. The initial group to receive repayments includes claimants seeking $50,000 or less, as outlined in the bankruptcy plan approved in October.
https://beincrypto.com/ftx-repayments-plan-is-active/
So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.
Quite a good heart from them, seeing the willingness to refund some part can be a consolation to users who were affected instead of a complete closeup without recognizing the loss of users....
They say Half Bread is better than none...
Good luck.
Hope it is alot for you
It's not that much money, but it's going to make a difference to me hehehe, and it's at a good time.
Thank you
I guess a victim here is already sharing a testimony... Goodluck bro...
But I believe there'll still be other victims out there who wouldn't be privileged to successfully submit their claims and they'll likely be scrapped out of this reimbursement.
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I guess a victim here is already sharing a testimony... Goodluck bro...
But I believe there'll still be other victims out there who wouldn't be privileged to successfully submit their claims and they'll likely be scrapped out of this reimbursement.
As far as I know, 100% of users with receivables below 50k USD were eligible to receive a refund
I don't know what the situation is like for those over 50k
User mohdelayo mentioned that he doesn't know if he'll receive the refund, but I don't know what his situation is, that's why I even asked, because most have already received the refund information and on the 18th they'll release it on Kraken and BitGo
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As far as I know, 100% of users with receivables below 50k USD were eligible to receive a refund
I don't know what the situation is like for those over 50k
Only users who have successfully passed kyc in the Customer Claims portal will receive their funds back. As far as i know, there were a lot of users who were having issues submitting their kyc in the portal and it is sad that many of of them were frustrated and gave up on it. However, goodluck to creditors in the 'convenience class' who passed kyc and will soon receive their money.
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It's finally over
(https://i.ibb.co/fYZGzkhD/ftx.png) (https://ibb.co/XZ6kr7hY)
After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD
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After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD
That is huge news, a big congratulations to you and to every other 'convenience class' creditor out there who has either received their money or will do so within the next 3 business days from yesterday. Just a small question, which you don't have to answer, are you going to withdraw your money to fiat, or are you going to buy crypto with it.
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After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD
That is huge news, a big congratulations to you and to every other 'convenience class' creditor out there who has either received their money or will do so within the next 3 business days from yesterday. Just a small question, which you don't have to answer, are you going to withdraw your money to fiat, or are you going to buy crypto with it.
Thanks!
No problem hehe, but I'm planning to convert my USD in Kraken to USDT and withdraw to my wallet
Then I will split in 4 parts, 25% each one
1 - Buy BTC
2 - Put USDT to work in my DeFi wallet
3 - Hodl USDT in my cold wallet
4 - Put USDT to work in my airdrop wallet
I don't have a huge amount of money, but this money will help me a lot
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As far as I know, 100% of users with receivables below 50k USD were eligible to receive a refund
I don't know what the situation is like for those over 50k
Only users who have successfully passed kyc in the Customer Claims portal will receive their funds back. As far as i know, there were a lot of users who were having issues submitting their kyc in the portal and it is sad that many of of them were frustrated and gave up on it. However, goodluck to creditors in the 'convenience class' who passed kyc and will soon receive their money.
My advice for those struggling to get their kyc approval but being frustrated shouldn't give up, there is always a way out of this situation. I think they should keep trying and always seek customer desk for assistance.
Honestly, victims with KYC issues should be focused to succeed, it not the best idea to aboundom your hard earned money because of KYC difficulties. I also think these exchanges selected for the payment should ease the KYC procedure for the victims to have a successful KYC registration.
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I don't have a huge amount of money, but this money will help me a lot
Thank you for answering my question in details, the money may not be a huge amount, but i am happy it will help you greatly, so goodluck friend.
My advice for those struggling to get their kyc approval but being frustrated shouldn't give up, there is always a way out of this situation. I think they should keep trying and always seek customer desk for assistance.
That would be the normal thing to do, but it is very frustrating for them. Some of the creditors who even passed kyc couldn't get their money because the distributing service providers are not eligible in their jurisdiction, now they have to wait for ftx to address that.
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Received my funds into my Kraken account this week. :)
I had around $1400 to receive, even profited a bit since they offered more than I lost, and I only had USDT at the time of the fall, so I didn't get any cut like people who had 1 BTC and are only receiving the USD worth of that time instead of 1 BTC or the current value of $95k.
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Thank you for answering my question in details, the money may not be a huge amount, but i am happy it will help you greatly, so goodluck friend.
Thanks Z-tight :D
That would be the normal thing to do, but it is very frustrating for them. Some of the creditors who even passed kyc couldn't get their money because the distributing service providers are not eligible in their jurisdiction, now they have to wait for ftx to address that.
They said they will offer a 3rd option to people out of jurisdiction of Kraken and Bitgo
To be honest it's just a matter of time, I know it's frustrating, but they already paid people of both exchanges and I'm sure they will make another partnership to pay the rest of people
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Thank you for answering my question in details, the money may not be a huge amount, but i am happy it will help you greatly, so goodluck friend.
Thanks Z-tight :D
That would be the normal thing to do, but it is very frustrating for them. Some of the creditors who even passed kyc couldn't get their money because the distributing service providers are not eligible in their jurisdiction, now they have to wait for ftx to address that.
They said they will offer a 3rd option to people out of jurisdiction of Kraken and Bitgo
To be honest it's just a matter of time, I know it's frustrating, but they already paid people of both exchanges and I'm sure they will make another partnership to pay the rest of people
I know you a long time I do have a kraken account but I would imagine they won’t pay into my account on your behalf even if you sign off on it. i see you got the coins in usdt.
nice do not buy any fucking eth with it!!
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They said they will offer a 3rd option to people out of jurisdiction of Kraken and Bitgo
To be honest it's just a matter of time, I know it's frustrating, but they already paid people of both exchanges and I'm sure they will make another partnership to pay the rest of people
I know you a long time I do have a kraken account but I would imagine they won’t pay into my account on your behalf even if you sign off on it. i see you got the coins in usdt.
nice do not buy any fucking eth with it!!
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Yes you're right philipma, every user need to have their own account to receive the funds, and I received in USD
I had to convert the USD to USDT and USDC (both, I use both stablecoins)
But I didn't buy any ETH ;)
My plan was to convert 25% in BTC, 75% in stablecoins
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Received my funds into my Kraken account this week. :)
Congratulations to you on receiving your money back. You also do not have too much regrets like those who were holding BTC, because what you had was usdt. I am glad that this whole ftx saga is slowly coming to an end.
They said they will offer a 3rd option to people out of jurisdiction of Kraken and Bitgo
To be honest it's just a matter of time, I know it's frustrating, but they already paid people of both exchanges and I'm sure they will make another partnership to pay the rest of people
Yeah, i also believe that such people will eventually get their money back, as long as they are able to cope with the frustrations and keep following the process as directed by ftx.