Bankruptcy of FTX Exchange: Update
In his Telegram channel, MP Yaroslav Zhelezniak shared fresh news about the bankruptcy of the FTX exchange. It seems that almost all (98%) of clients’ funds can be returned. This became possible thanks to the management of FTX, which came under the control of a bankruptcy team.
Currently, there is around $14-16 billion in FTX accounts. This was made possible due to several factors: the increase in the value of cryptocurrency assets during bankruptcy, investments in successful startups, the sale of assets such as real estate and private jets, and the return of donations. However, there are some shadows in the joy.
Clients will be compensated in US dollars at the time of bankruptcy, which may result in losses from the increase in the value of cryptocurrency. FTT token holders will not receive compensation, and donations made from FTX funds have not been fully returned.
