FTX RETURNS CUSTOMER MONEY ??
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- Опубліковано 8 тра 2024
- Customers of the bankrupt cryptocurrency exchange FTX are set to receive all of the funds lost during the firm’s 2022 collapse, along with interest payments of up to 9 percent, according to an announcement from the firm’s lawyers.
- Комедії
The people who bought any of that debt making bank.
Plus interest 🤑
Small hat gang
Most won't get the money since they sold the rights to recover it for cents on the dollar
Well obviously if you sold your rights you won't get your money back.
Alright, Centralized Government coming in to save the ppl who wanted decentralized banking 🤔
FTX was a US compliant centralized Exchange, there are many decentralized exchanges that have self custody and have not been hacked
Uniswap and Raydium are examples
@@mghq-mobilegamerzhq2533 the fact that you have to specify that some of them haven't been hacked 😂😂
No, they had a lot of crypto that went up in value.
If you had 1 btc with FTX worth $18k then, and you get $18k from the administrators, you're still about $44k short on where you'd be if you still had your btc.
This comment isn't an argument for or against the banking system but crypto exchanges are sus af imo.
and they will graciously accept the money from the government they wish didn‘t exist…
Caveat: they are valuing your crypto at the time of closure, Bitcoin: $18,562… bitcoin is currently at $62000.
Ouch… Glass half full I guess lol
Yeah, better than losing the money you had in FTX.
Well yeah, that's the fair way to do it
Glass half full?
Glass overflowing - do you know how rare it is for investors to get even 10% back...
Anyone know the numbers on how many people had it on there in Bitcoin though? If it was any other coin except Bitcoin, it fell off since, right?
Crypto is a scam
I saw the headline that all the people were getting their money back. I’m staggered to learned the government got back some $15 billion dollars
It was easy…most of it was in the Marxist Democrats bank accounts
It's actually mostly because a company FTX put a lot of money into was an AI company that blew up massively in value. The government didn't do anything. The people just got lucky.
@@MangoMotors "The government didn't do anything" none of this would be happening if the govt hadn't stepped in.
@@MangoMotorsif the government hadn't have stepped in, nobody would be getting any money.
It’s not that hard take Bernie Madoff once they sold the property, jet, yacht and cars the recovered 95%.
High end stuff often appreciates in value or holds value well.
I had to think long and hard about this when I saw the headlines earlier this week. Don't forget that the company itself lost its investors a ton of money. This also doesn't make up for any alleged earnings that customers might have thought they earned.
The money want "lost" or destroyed, it went to other people. Those people had to give it back. At least that's how most recoveries worked in the past.
It’s not “alleged earnings”. It’s literally a fact that if these people held their own bitcoin, instead of giving it to FTX, they’d have significantly more money. Not all of them, of course, because some people would have sold, if they hadn’t been prevented from doing so, but for a lot of people, they had an asset of provable value, and it is not being valued as what it’s worth. It’s like offering you $100,000 under asking price, and then saying you should be okay with that because your house is only worth more in theory.
@@MasteredMagic and it's also a fact that if the government didn't step in to recover what they did they would have nothing. They should be lucky they're getting anything.
@@t0m1m oh yeah! Awesome man! Praise the government for literally doing their job. That totally makes life changing money being taken from people better, because “Hey, you didn’t lose literally everything you put in”. I’m glad that they’re siphoning everything back to the users of the platform, but it’s still a VERY big loss. Those people could have literally lost their wallets for their entire time of investment, and then found them now, and would have been much better off. The only thing worse than this loss, is literally not having it at all. So sure, people are getting a little money back, but they lost. The inflation rate alone beat their asses the second they go to convert it into US currency. And this isn’t even accounting for opportunity cost. This is literally just if you literally forgot you had it at all, and did literally nothing with it.
Now imagine how helpful $50,000 would have been to actually apply? Put that in another market, and compare that with the 18%, that these users will get. Remember though, in the bitcoin market, so you know, the market the people actually wanted to invest in, they would have made so so much more. That opportunity cost was very real for a LOT of people. Particularly the ones who were interested in the crypto market…
This is a loss, with “break-even” paint slathered sloppily over it.
i’m glad our government and the FTC specifically seems to actually be caring more about white collar crime and consumer protections.
It was mostly because influential people actualy got robbed in this scam if normal everyday people were the only victims the amount recovered would be so much less
@@baseupp12 i’m gonna be honest, i don’t agree with you. i think the opposite. Because there were so many high profile celebrities promoting it with almost zero oversight, and so many instances of like teacher’s retirement funds being invested, that it attracted more attention from the relevant authorities.
Dude. This was just an uniquely outrageous case. FTX could have gotten away with it if they were more lowkey and smart about their corruption.
@@kingace6186 i disagree. at the end of the day, once they couldn’t get customers their money, they would’ve been arrested and the details would’ve come out eventually. there was still always going to be some amount of paper or blockchain trail that, no matter what, proves funds were moving into alameda when the definitely shouldn’t have been. even if he wasn’t spending a bunch of money on parties and shit, he still would’ve gotten caught.
@@KaelynSmith-bc9ww wrong
This is literally just like a monopoly game
Dollar amount is not Bitcoin value though.
The reason they can get their dollar amount back is because crypto more than tripled in dollar value.
Basically if bankruptcy returned original amount in bitcoins and eth the customers would have tripled their money.
it actually had more to do with an AI startup which shot up in value, not crypto
"Wait really?" "Yeah some WaPo guy sold his Really expensive bulletin board."
Dang das good news, i think
Yes it is good news
The girls at the back be like: 😐↘️↙️⬅️↖️➡️↘️
Those who promoted FTX without due diligence should not get any back if that was ever part of it😊
Graham dude and many others like him
I JUST talked about this in my law class
The moving background made me think my couch was moving
These are their stories.
The pen twirling 😂
Yo my state Delaware getting a cameo
“*dun dun*” 😂😂😂😂
If they had coins, their getting the value for what it was sold at the time when the market hit rock bottom. So they are getting practically nothing back compared to the value of it now which is 90% higher. Everyone is getting ripped off because everyone taking big loss because nobody would have sold their coins at the bottom. They just stole everyone's money and the rich people scooped it up.
Question do you have a rainbow of pom pom pens and notebooks or one set of green
What about all of the people who’s portfolios tanked due to a company they had nothing to do with? Lol. This essentially means my money was safer in FTX then other exchanges all along.
Yeah that's part of the game bro
Even 1 penny back is more than crypto bros deserve
Sure, thats some good cryptobro logic lol
the people are getting the money back cuz they were told it is a BANK ACCOUNT, what you've made is an INVESTMENT.
basically the reason why the money was able to be retrieved because SBF’s horribly risky investments (that he purchased using customer fund’s illegally) ended up paying off and became insanely valuable. since those assets were illegally required and FTX is in debt that means the customers get their money back. great for the customers, but i wouldn’t want to have my money being illegally used on risky investments under my nose.
Oh my god. Property prices soaring to unbelievable heights was SO wild that the company actually made money when their assets were sold?
I'm not used to getting the good ending in this universe. nice
John J. Ray is pretty good at his job apparently.
what about all the businesses that went under or suffered irreparable damage?
I thought that money was long gone 😅
Honestly though that email was a joke
Tinfoil hat this is just a bailout in disguise
…who is getting their money back exactly?
I don’t suspect anyone getting a refund is really suffering without that money
Rich people, you don't mess with their money... If it was a bunch of normal people they'd never see a dime 😂
A lot of customers are. Mind you, the problem with FTX was in large part they had investments that were unsellable, so they collapsed because they lacked the cash at the time. With the time to properly sell everything (and I mean EVERYTHING) as well as clawing money from guys like the founder who was convicted, they got the money back.
@@wesleyfravel5149
I think it is reasonable to assume that relative to a random sample of the population FTX customers are already better off
New poor is a punchline and new rich is what we all want to be
Believe it or not, it's rich people who make your life better.
The poor guy down the street does ZERO to help you. The rich guy is gonna invest his money and create something. A TV used to be an investment. Now you've got one in every room because a rich guy made some fat investments and paid a lot of people and figured out a way to make them cheap thus why not you can get a 32 inch smart TV for literally 130$ (that's how much I paid for mine).
That used to cost 500+
The rich guy builds businesses. A 7-11 closer to your house. A fast food place that's 5-10 blocks closer. A grocery store that's 5 minutes closer so you save time.
Rich people make your life more convenient. Poor people don't do shit for you. You're focusing your hate on the people who actually help you improve the quality of your life. To such extent that we started having "basic needs" that we say we are entitled to. The list of them grows daily. Other countries don't get this privilege, they call them wants not needs.
That's a pretty big and false assumption. A lot of small investors in this.
wow I am impressed.
Impressive as hell
You said Deleware not Delaware
You get the money you loss plus interest. Not the current market value of the crypto you held. They can do this because their actions were exposed during a crypto crash. Now it’s booming.
Delaware!!!
They had to get a refund from the DNC😂😂
Wow!
Great. The government gave them their money back, which meant the taxpayers paid for it, which also means that it's subject to a whole bunch of taxes, which means they're getting very little back and we're paying for it
Well... no the tax payers didn't pay for it... That isn't what that means. They recovered the funds. Or is your concern that tax dollars went to bringing justice to people who commited fraud and have since been charged? Because if your issue is the legal system requires money to run... youre just dumb. If you think the money being paid back to people is tax dollars... you're dumb... Its just money they recovered. Watch the video again.
Lawsuit money is not taxed, neighther is money recoverd from fraud. If you owed taxes on it originally and did not pay it then you will have to pay it in the end.
@zyxwvutsrqponmlkh the pool the money was taken from to pay this is covered by thr govt. Not sure if this is common knowledge but all govt money is tax money
This is great news
Not to be that gal but isn’t it Delaware?
Y’all know he actually had more than enough to repay everyone in un crash right? No joke the only reason he declared bankruptcy was because the company was so unorganized he didn’t know he had enough
No , it's because crypto has recovered and because some of the gambles he made paid off including an AI company that has since gone up significantly in
value
@@Parth-Jain-04The A.I. company that he paid for with other people's money.
Lol that's not true.
🥔
1 of very few vids I’ve seen from you that aren’t extremely biased towards one political side, good news though.
Reality has a left wing bias
Funny; since everyone got their money back they should release SBF, right? According to DJT there is no crime, cause everyone got paid back. No harm no foul, right? He wishes that's how the law works. Lol!
Rare US government w
What property is worth that much
Crypto
they still had multiple billion $ in crypto that has since been sold and equity in companies like anthropic which netted a huge profit that they could sell and recoup some of the losses
If only the Democrats would give back their campaign donations 😂😂😂😂😂😂😂😂😂😂😂😂
That’s a lie, have the Democrats returned the massive amounts that FTX gave to them?
They’re NOT getting their money back. They’re getting paid the US dollar value of tokens at time of liquidation, which is when the market was at the bottom. Many of these tokens are worth 3x or more than the value being paid to depositors.
I wish I got my money back from mark Cuban's bitcoin
A big lol to the bonkers FTX defenders in the comments.
Yeah right..lol
Dozens of private parties 😂 meaning the money laundering has to continue !! Bitcoin has being so great for criminal enterprises
Its easier to launder cash than it is to launder bitcoin. Cash.. has no tracability. Bitcoins entire purpouse is you can trace exactly where money has come and gone.
Got lucky losers😂
What is FTX?
It was an investment group, however they weren’t very profitable for their investors so they marketed themselves as investors into “social goods” like investing in green energy instead of oil etc.
Only it was revealed to be a giant scam where the money was being embezzled by people in the company and given away to democrats as “donations”.
They basically took billions of dollars telling their customers they were going to invest it only for it to be stolen.
Deleware nice spelling Mr. Bezos
So................... SBF didn't lose all the money?
OK I understand there was still some loss but come it’s investing, in crypto 😅- if they’re getting back most of their funds, why did they lock up ole Sam for 2.5 Decades- like 25 years for a NONVIOLENT offense is wild. And yes I know many people have it worse for less, just bc it’s bad for US doesn’t mean I want more people to have overly severe punishments. I think anything over 15 if you didn’t physically harm someone is just too much. 🤷🏽♀️
Yeah the penalties are harsh to the point that it doesn't do anything more than ruin people's lives with no added benefit if there even is one to begin with.
But financial crimes do have severe consequences. People have been led to suicide over financial losses in the past, so it can be about as bad as murder.
All crypto is a scam
Why?