FTX Customers to Get 90% Refund…Unbelievable!!!

In a stunning turn of events, customers of the bankrupt cryptocurrency exchange FTX are set to receive up to 90% of their funds back. This news comes as part of a revised bankruptcy plan that aims to return a significant portion of the assets held by customers before the exchange’s collapse in November 2022. The proposal  has been met with a mix of relief and skepticism from the crypto community.

While the plan promises to refund a substantial amount, it’s important to note that these refunds will be in dollars rather than cryptocurrency, which could result in a significant opportunity cost for customers given the recent rebound in crypto value. Additionally, the actual recovery for customers might be lower than 90%, as the refunds are based on distributable assets that FTX has managed to recover, not the total amount lost by customers. Despite these caveats, the announcement has been hailed as a major step towards resolving the FTX saga and providing some closure for affected customers.

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