Crazy story gets a little crazier: "most - or roughly 98% of its (FTX) creditors - would get back 118% of what they had on the FTX platform the day the company entered Chapter 11 bankruptcy." - Upgoat

Crazy story gets a little crazier: "most - or roughly 98% of its (FTX) creditors - would get back 118% of what they had on the FTX platform the day the company entered Chapter 11 bankruptcy."
submitted by Sector2 to CryptoReality 1 weekMay 9, 2024 00:30:29 ago (+7/-0) (www.zerohedge.com)
https://www.zerohedge.com/crypto/creditors-bankrupt-ftx-receive-much-142-what-they-are-owed

"Bankman-Fried was sentenced to 25 years in prison. He plans to appeal his sentence and conviction. In retrospect, considering that those who had money in his bankrupt exchange got as much as a 42% return, he may well end up with a reduced sentence."

Thought I recently read he got a huge reduction, but maybe that was just speculation.

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[ - ] chrimony 3 points 1 weekMay 9, 2024 01:08:45 ago (+3/-0)

He stole a bunch of funds to enrich himself and those around him. That some investments he had went up wildly in value after the fact doesn't change what he did.

[ + ] Sector2

[ - ] Sector2 [op] 1 point 1 weekMay 9, 2024 01:18:33 ago (+1/-0)

Exactly. It was a massive criminal enterprise that stole vast amounts from people. Just a crazy fluke that they're getting their money back.

[ + ] PotatoWhisperer2

[ - ] PotatoWhisperer2 1 point 1 weekMay 9, 2024 12:21:14 ago (+1/-0)

That won't change the fact that he'll get out of jail in a couple years and live a luxurious life.

[ + ] Sector2

[ - ] Sector2 [op] 0 points 1 weekMay 9, 2024 12:31:23 ago (+0/-0)

The power of jewish political donations compels them.

[ - ] Sleazy 2 points 1 weekMay 9, 2024 03:07:12 ago (+2/-0)

doesn't quite add up

[ + ] TheYiddler