FTX Repayments Process is Now Active With Users to Recieve Funds in 60 Days

[Baofeng]

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.

[bitterguy28]

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

[yhiaali3]

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.

[Zed0X]

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.

[electronicash]

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.

[Z-tight]

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.

[rdluffy]

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

[hugeblack]

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.

[Bobcrypto]

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.

[TomPluz]

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.

[hugeblack]

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.

[rdluffy]

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

[ZAINmalik75]

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.

[Baofeng]

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.

[rdluffy]

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