louis is a lil drunk & shows us photos of his grandma at the end 😂 we love louis! If you’re interested in selling your FTX, Celsius, BlockFi or Voyager claim: www.ftxcreditor.com/ x.com/ftxcreditor_com Telegram: FTXCreditor Louis (Co-founder FTX Creditor): x.com/louisorigny lo@ftxcreditor.com Follow Arush: x.com/arush
@@caparn100 BTC will likely get to $120k+ in the next 6-9 months and we don't know when we are getting any money back. It could be 6 months or could be 3 years...
Very interesting video, thanks for the insights. I do understand the arguments of Arush, but I wonder how much support this will get. The estate only has a certain amount of assets to distribute, and obviously there is a conflict of interest between claimants. Someone who had BTC (like me), want the BTC. Someone who had a memecoin that is worthless now rather wants its USD value at petition date. Apparently a high amount of claimans (i heard 2/3, but dont find a source to back this up) of the pool had stablecoins, for which the current plan at 9% interest is is also beneficial. So it will be hard to fight this against this majority. And each month you push this out, it costs legal fees from the estate. Regarding Withholding Tax: You can sign-up to the Bahamas Process and the distributions should be "materially equivalent". Since the Bahamas doesnt have any Withholding Tax, this should make sense to do for international claimants. Claim bar date seems to be 15 May, so better get going. Apparently you can opt for either "US process" or "Bahamas process" at a later stage, so dont see the downside of currently filing in both.
@@blockchainbreakdown2009 granted how dumb some of these crypto investors are I’d bet at least a handful of people would trust that clown with their money again.
As an international creditor I’m inclined to vote yes, why would I want to push the process back years ? And even if I were to be subject to a 30pct withholding tax (though I’m even not sure this has been confirmed) it’s likely to be on greater than 118pct of the claims value, so I’d likely still receive a good payout. Plus, there are like to be avenues to recuperate any withholding taxes in subsequent years
The Big negative is to see big $ claim able to get near 142% while crypto same or even less 118% for smaller claims. Unfair to have $ claims getting 100% + interest rate 18% or more if delay + near 24% BONUS thanks to crypto pump ! Plan just design for claim buyers.
By doing so (+ not make the easy fix : convert $ to stable for distribution), crypto hodler recovery suffer even more than what it should be in a fair world
When they say people got all of their money back they mean if Madoff had paid you 8% a year for 13 years you got 104% of your money back and there isn’t any principal left. This means you lost all the interest you could have made elsewhere for the last decade plus.
Witholding taxes ONLY APPLY TO THE INTEREST PORTION, it is expected everyone will recieve approximately 18% interest on their balance (as of Nov 2022), up to 30% of this INTERST will be withheld.
Recovered debts from money that you lost due to fraud is not taxable in most jurisdictions. So you just got a solvable company. Irony is, Sam went to prison yet people are more than dollar whole
Tiffany!! You need to try Port! You typically have it after dinner with a desert. Basically, it is a very concentrated red wine and very tasty! It is not like a cabernet that you would drink to get a little buzz going! Thanks for the update on FTX as always! 🥳
Not many will agree with me, but I really hope SBF gets scentence substantially reduced at some point. He messed up but is not a violent criminal. He has scope to to good in the world again if given the chance.
What sentence would you give someone who stole all the money you have saved and used it to buy things for themselves? Does getting it back eventually make the initial crime any less traumatic?
118%+ return represents, in simple terms, an 18% asset appreciation. What's the problem Tiff? Given that depositors could have received zero, squealing about not getting a BC for a BC is what's known as hindsight capitalism.
@@hagestadyou sound literally r*tarded judge Kaplan has stated multiple times that he doesn’t care about how much creditors get back were you at trial or at sentencing ?
@@TiffanyFong I hear you - but will judge Kaplan be involved when some sort of appellation/new evidence in case thing happens? I hope you are right but stranger things have happened.
Louis is soooo cultured! Wow. Parents own old museum houses and he visits France. His fancy 1985 Port wine must cost a lot. FYI a "port" wine could be White Zin. Usually anything that says "port" just means it's what the drunks used to drink in a port. Could be a lot of things. I like White Zin but I drank a lot of it in college because it's a cheap port wine, that's why. Louis is very cultured ... for an idiot. A lucky idiot.
I can't tell if you're serious, but in case anyone is being misled, the "port" in port wine refers to the city of Porto in Portugal, where port wine is produced. There are strict regulations about what can be called port wine,...in the EU. As with other types of wine named after places, California doesn't care about other people's rules. Edit: typo
@@Guishan_Lingyou That's not what I was taught at a wine tasting in Napa. If what you say is true then why not call it a "Porto" wine? I think you are mistaken. We'll just agree to disagree on this but can we at least agree that crypto assets are a worthless joke?
@@rwoodward8839 People in California sometimes stubbornly refuse to follow the same meanings of words like Champagne and Port as the rest of the world. Just to show I'm not making things up, here's what Wikipedia says: Port wine (Portuguese: vinho do Porto, Portuguese: [ˈviɲu ðu ˈpoɾtu]; lit. 'wine of Porto'), or simply port, is a Portuguese fortified wine produced in the Douro Valley of northern Portugal.[1] It is typically a sweet red wine, often served with dessert, although it also comes in dry, semi-dry, and white varieties. Other port-style fortified wines are produced outside Portugal - in Argentina, Australia, Canada, France, India, Italy, South Africa, Spain, and the United States - but under the European Union Protected Designation of Origin guidelines, only wines from Portugal are allowed to be labelled "port"
If this goes through then alot more people will see 25 years as the only sense of justice left in the world where as before things were beginning to fade
A more accurate title would have been: "FTX Creditors get 30% back… NEW Plan Explained". (a little less even). Trying to put a positive spin on this through mental gymnastics is just scummy behavior.
@@TiffanyFong I see you continually use this word. Please don't use it, it makes you look scummy and less credible. Don't act like you are in middle school in the 80's. Hopefully you will see it is beneath you and unnecessary.
Louis lives under a lucky star. (Arush, thanks for explaining your situation so well. You, on the other hand, are not living under a lucky star. Sorry you've been put in this position.)
louis is a lil drunk & shows us photos of his grandma at the end 😂 we love louis!
If you’re interested in selling your FTX, Celsius, BlockFi or Voyager claim:
www.ftxcreditor.com/
x.com/ftxcreditor_com
Telegram: FTXCreditor
Louis (Co-founder FTX Creditor):
x.com/louisorigny
lo@ftxcreditor.com
Follow Arush: x.com/arush
Why on Earth would you sell your FTX if you are going to get 118% back?
@@caparn100 BTC will likely get to $120k+ in the next 6-9 months and we don't know when we are getting any money back. It could be 6 months or could be 3 years...
You’re always awesome to watch Tiff. Great interview 👍🏾🙏🏾
Tysm!!!
That’s a quite useful video, thanks for organising this!
Very interesting video, thanks for the insights.
I do understand the arguments of Arush, but I wonder how much support this will get. The estate only has a certain amount of assets to distribute, and obviously there is a conflict of interest between claimants. Someone who had BTC (like me), want the BTC. Someone who had a memecoin that is worthless now rather wants its USD value at petition date. Apparently a high amount of claimans (i heard 2/3, but dont find a source to back this up) of the pool had stablecoins, for which the current plan at 9% interest is is also beneficial. So it will be hard to fight this against this majority. And each month you push this out, it costs legal fees from the estate.
Regarding Withholding Tax: You can sign-up to the Bahamas Process and the distributions should be "materially equivalent". Since the Bahamas doesnt have any Withholding Tax, this should make sense to do for international claimants. Claim bar date seems to be 15 May, so better get going. Apparently you can opt for either "US process" or "Bahamas process" at a later stage, so dont see the downside of currently filing in both.
As always, excellent video, keep up the good work Tiff 👍🙏
Loveliest most engaging uploader in this space. Obviously in love with LO . Sweet .
Awwww ty
Give Sam ftx back and he’ll run it legit this time he promises
I'd be Yoloing all my dog related meme coins on his new FTrekX - derivatives platform lol
@@blockchainbreakdown2009 granted how dumb some of these crypto investors are I’d bet at least a handful of people would trust that clown with their money again.
Tokenised fish for all... and you get a tin amd you get a tin
😂😂😂😂😂😂😂
very informative. thank you.
lets all learn the lessons of counter party risk together.
As an international creditor I’m inclined to vote yes, why would I want to push the process back years ?
And even if I were to be subject to a 30pct withholding tax (though I’m even not sure this has been confirmed) it’s likely to be on greater than 118pct of the claims value, so I’d likely still receive a good payout.
Plus, there are like to be avenues to recuperate any withholding taxes in subsequent years
Because it's still only 20ish percent of today's price after 2 years and then the its wants another 25% for themselves.
Confidence in Revux increased; just added more to my holdings!
The Big negative is to see big $ claim able to get near 142% while crypto same or even less 118% for smaller claims. Unfair to have $ claims getting 100% + interest rate 18% or more if delay + near 24% BONUS thanks to crypto pump ! Plan just design for claim buyers.
Plan bribing USD claims owner and claim buyer to get more vote and cover misconduct
By doing so (+ not make the easy fix : convert $ to stable for distribution), crypto hodler recovery suffer even more than what it should be in a fair world
Note that the 142% seems to only count the supplemental remission fund, will go higher with the compensation fund
When they say people got all of their money back they mean if Madoff had paid you 8% a year for 13 years you got 104% of your money back and there isn’t any principal left. This means you lost all the interest you could have made elsewhere for the last decade plus.
Witholding taxes ONLY APPLY TO THE INTEREST PORTION, it is expected everyone will recieve approximately 18% interest on their balance (as of Nov 2022), up to 30% of this INTERST will be withheld.
hey Tiffany .... I am back from Las Vegas for a full week of travelling
Presales remain my go-to, and Revux is my latest pick. Early birds catch the worm!
YOu think Sam can appeal his case and get some time off his sentence? I think he's probably gonna do that and get out in 5 years...
He’s appealing but no the judge doesn’t care about how much customers get back he’s made that clear
Hate the taxable event situation. I mean, who knows my tax situation in 24’ but taking 30% off top is silly.
Recovered debts from money that you lost due to fraud is not taxable in most jurisdictions.
So you just got a solvable company. Irony is, Sam went to prison yet people are more than dollar whole
G-Lock got dem fresh mack packs cup o noods minus the flavor is a dub inside
Ayooooo
@@TiffanyFong If I said you had a beautiful body would you hold it against me?
Hi Tiff, why we didn't get a refund like this with Celcius ? only approximatly 52% ???
I'm a MTGOX creditor and I still haven't gotten paid back yet, I highly doubt FTX will pay back this year
Yo, but yur getting 118% back, its not a lie.
Greetings fellow GoxWar veteran. I only lost about 500 bitcoin at MtGox.
Agree
what about Gemeni? are they getting their money back? I lost some money on Gemini due to FTX...
At least Gemini gets back 1 to 1 crypto assets.
That's crazy. The S&P is only up 11% since January 2022. Turns out getting scammed by FTX was a sound financial decision
18% return baby
custies should get 200% back
Tiffany!! You need to try Port! You typically have it after dinner with a desert. Basically, it is a very concentrated red wine and very tasty! It is not like a cabernet that you would drink to get a little buzz going! Thanks for the update on FTX as always! 🥳
Ok i will try one day!
Revux roadmap is promising; exciting times lie ahead!
Tiff is the best
Ty!!!!
Shes the least smartest Asian I've seen
Not many will agree with me, but I really hope SBF gets scentence substantially reduced at some point. He messed up but is not a violent criminal. He has scope to to good in the world again if given the chance.
What sentence would you give someone who stole all the money you have saved and used it to buy things for themselves? Does getting it back eventually make the initial crime any less traumatic?
118%+ return represents, in simple terms, an 18% asset appreciation. What's the problem Tiff? Given that depositors could have received zero, squealing about not getting a BC for a BC is what's known as hindsight capitalism.
Agreed
I bet it would be used in Sams favor when his lawyers perform legal gymnastics to get him out of jail pretty soon i guess. No way he sits there 25y.
what are u talking about I don’t even have money in FTX? lol I am literally listening to creditors talk about their issues with the plan?
@@hagestadyou sound literally r*tarded judge Kaplan has stated multiple times that he doesn’t care about how much creditors get back were you at trial or at sentencing ?
@@TiffanyFong I hear you - but will judge Kaplan be involved when some sort of appellation/new evidence in case thing happens? I hope you are right but stranger things have happened.
So, no loss. If no loss, then the fraud charges seem a bit weakened. Seems like Sammy might win in appeal.
Judge Kaplan does not care about how much was recovered this was already discussed in sentencing
I robbed a bank. The money was eventually recovered. Should I still be punished for robbing the bank?
Rich kids talk money 😂
Clearly you don't know Tiff very well lol
free sam!
Louis is soooo cultured! Wow. Parents own old museum houses and he visits France. His fancy 1985 Port wine must cost a lot. FYI a "port" wine could be White Zin. Usually anything that says "port" just means it's what the drunks used to drink in a port. Could be a lot of things. I like White Zin but I drank a lot of it in college because it's a cheap port wine, that's why. Louis is very cultured ... for an idiot. A lucky idiot.
He is!!!
I can't tell if you're serious, but in case anyone is being misled, the "port" in port wine refers to the city of Porto in Portugal, where port wine is produced. There are strict regulations about what can be called port wine,...in the EU. As with other types of wine named after places, California doesn't care about other people's rules.
Edit: typo
@@Guishan_Lingyou That's not what I was taught at a wine tasting in Napa. If what you say is true then why not call it a "Porto" wine? I think you are mistaken. We'll just agree to disagree on this but can we at least agree that crypto assets are a worthless joke?
@@rwoodward8839 People in California sometimes stubbornly refuse to follow the same meanings of words like Champagne and Port as the rest of the world.
Just to show I'm not making things up, here's what Wikipedia says:
Port wine (Portuguese: vinho do Porto, Portuguese: [ˈviɲu ðu ˈpoɾtu]; lit. 'wine of Porto'), or simply port, is a Portuguese fortified wine produced in the Douro Valley of northern Portugal.[1] It is typically a sweet red wine, often served with dessert, although it also comes in dry, semi-dry, and white varieties.
Other port-style fortified wines are produced outside Portugal - in Argentina, Australia, Canada, France, India, Italy, South Africa, Spain, and the United States - but under the European Union Protected Designation of Origin guidelines, only wines from Portugal are allowed to be labelled "port"
@@rwoodward8839 As for crypto assets, I'm not into gambling, but sometimes something worthless can be worth a lot if someone will buy it from you.
Port, it tastes just like Buckfast.
😂😂 wreck the hoose juice as we say in Scotland
Hooked up!! Hell yea that's what's up!
so if you sold the claim early you get less afterall :)
If this goes through then alot more people will see 25 years as the only sense of justice left in the world where as before things were beginning to fade
So credulous. Let's see if it actually happens.
A more accurate title would have been: "FTX Creditors get 30% back… NEW Plan Explained". (a little less even). Trying to put a positive spin on this through mental gymnastics is just scummy behavior.
….. did you listen to the video or are you just r*tarded
@@TiffanyFong Yes. Even the part where you yourself said that these headlines are "a bit deceptive".
@@TiffanyFong I see you continually use this word. Please don't use it, it makes you look scummy and less credible. Don't act like you are in middle school in the 80's. Hopefully you will see it is beneath you and unnecessary.
Louis lives under a lucky star. (Arush, thanks for explaining your situation so well. You, on the other hand, are not living under a lucky star. Sorry you've been put in this position.)
When can Sam appeal his sentence? If you are 119 percent you are doing better than you were. We all make mistakes let’s let bygones be bygones
I don’t think it will affect his sentence tbh
thats madness
Maybe didn’t deserve 25 years 🤔
how about celcius
Nice😮
I m glad for the creditors and 3some is fun
🤣
Aroosh is cool
TIFF IS SOOOO HOT