Did you have assets on FTX before it crashed?

[KryptoBull]

It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?

From what it seems, the repayment will be based on the amount of crypto you had before the crash. For example, if you had 1 BTC, you'll be paid the equivalent value at the time (around $18K), and the same applies to ETH, SOL, and other tokens.

The payments will be processed through several exchanges, including Bitget, which is even offering a rebate of up to $2,500 for FTX creditors meaning those who had funds stuck there.What exchange are you using for your repayment?

I once wanted to use FTX in 2021 because Sam was very famous and considered a hero of the crypto market. I also expected that the FTT token would be as successful as BNB and bring me huge profits in the future. Luckily, I didn't have too much money to need to use more CEXs, I bought a few FTT tokens on Binance and I avoided the FTX collapse.

Some of my friends used FTX and suffered great losses, because the current BTC price is very high compared to that time. I doubt their ability to reinvest in this market, especially when they receive assets while the market is extremely fearful and the BTC price falls out of the 80K range.

[rdluffy]

Some of my friends used FTX and suffered great losses, because the current BTC price is very high compared to that time. I doubt their ability to reinvest in this market, especially when they receive assets while the market is extremely fearful and the BTC price falls out of the 80K range.

The best thing of FTX was the withdraw fees, zero fees for Solana, and if I remember well, they even zeroed the fees from BTC and ETH too, so it was a great hub to deposit and withdraw coins at any time
I used a lot of free withdraws, but unfortunately I was struck at FTX in the fall
I think a lot of people used FTX for the same reason

[TryNinja]

The best thing of FTX was the withdraw fees, zero fees for Solana, and if I remember well, they even zeroed the fees from BTC and ETH too, so it was a great hub to deposit and withdraw coins at any time
I used a lot of free withdraws, but unfortunately I was struck at FTX in the fall
I think a lot of people used FTX for the same reason

Later we found out they were using our funds to invest and trade, so it made sense to offer zero fees for everything, including ETH when it was expensive (I saw $5 fees being covered by them many times). People took advantage of that to use FTX as a wallet, and then bam!

I also prefered to use FTX as a main exchange because of the zero withdraw fees, especially to hold some USDC when I had to move them between networks and wallets.

[rdluffy]

Later we found out they were using our funds to invest and trade, so it made sense to offer zero fees for everything, including ETH when it was expensive (I saw $5 fees being covered by them many times). People took advantage of that to use FTX as a wallet, and then bam!

I also prefered to use FTX as a main exchange because of the zero withdraw fees, especially to hold some USDC when I had to move them between networks and wallets.

I know now and I also knew at the time that it was risky to leave money on exchanges for a period of a few days, but at the time of STEPN (you remember), it was quite practical to use FTX to do Solana operations, go back to the wallet, do USDC>SOL or SOL>USD

And FTX was such a success, along with Alameda, FTT and Sam, that even the most skeptical would have doubted that what happened so quickly and at that time was possible
I escaped NegocieCoins, Celsius, IronFinance, Cryptopia, but not FTX 

[bhadz]

Fortunately, I do not have funds on FTX but I symphatized to all of the victims during the debacle and seeing them getting paid and refund has made me glad for them. They wont be back anymore as an exchange or any business that is tied to that name. Never had an account there but I think if it is still there as of now and hacks came by just as what happened to Bybit, I probably have moved some funds there.

[Aanuoluwatofunmi]

None, I don't have crypto assets in FTX before the crash, though it was an ugly experience by those affected by it but I don't also blame them because some were actually ignorant of what is at stake when considering their terms and offers as at then, it's an exchange one will not want to avoid using because of the varieties of offers they have been using to draw in more users, the team behind this exchange were high risk takers from my research.

[albon]

The FTX stopped customers from withdrawing money from the platform by removing that option online, meaning millions of customers lost access to their funds. When FTX couldn’t make up the $8 billion shortfall and the company filed for bankruptcy. The exchange had been in talks with investors and bidders for months but could not raise enough money for the rebuild. I never deposit funds in these useless exchanges and I make everyone aware of this. There is no shortage of low quality exchanges in crypto and you will never get high security from such exchanges.

[MrSpasybo]

It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?

From what it seems, the repayment will be based on the amount of crypto you had before the crash. For example, if you had 1 BTC, you'll be paid the equivalent value at the time (around $18K), and the same applies to ETH, SOL, and other tokens.

The payments will be processed through several exchanges, including Bitget, which is even offering a rebate of up to $2,500 for FTX creditors meaning those who had funds stuck there.What exchange are you using for your repayment?

Luckily I never used FTX and did not become a victim of them. Although I lost most of my profits in the 2021 cycle I am still much luckier than FTX users. Now I hope they will receive their money soon and use some of it to reinvest in the market instead of leaving crypto.

The FTX event helps to wake investors up and reminds them to be cautious before trusting anyone in this market too much. Sam B.F. and Alameda were all just scammers but received the trust and expectations of crypto investors. Decentralizing risk by using multiple CEXs and self-custody of crypto are things that investors can think about right from the start of joining this market.

[Findingnemo]

Even though FTX became so popular, I never used them and will never have too many unnecessary exchanges for my type of trading purpose. Any refunds from the bankrupted platform is just a lottery so use it wisely guys and don't gamble with it again on the random memecoins that will do o good for the purpose of money that reached you after all these years.

[36B]

Even though FTX became so popular, I never used them and will never have too many unnecessary exchanges for my type of trading purpose. Any refunds from the bankrupted platform is just a lottery so use it wisely guys and don't gamble with it again on the random memecoins that will do o good for the purpose of money that reached you after all these years.

In my entire stay in the crypto space, I stick to the view that sustainability supersedes gains by a multiple in the market. This is due to the failure of grasping the reality that most people get overjoyed by a high return without doing enough research to understand the risks involved. Most people could recall the time they invested and lost their money to a platform that declared bankruptcy and it is important to know that no system is perfect. Investing your own money in any project that is still quite experimental or a memecoin that comes out of the blue increases the risk factor. It is better to make some better shift, a more stable one to follow in hope for luck to run back again and again. In this case, I will like to use it in a more controlled manner than to take a big risk which has no basis.