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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.


9 comments block

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