Quote from: Rikafip on Today at 02:22:39 PM

Quote from: bbc.reporter on Today at 04:10:20 AM

Bankman-Fried will begin testifying as soon as Thursday, his team said.

Looking forward to it! Grin

Quote from: Numenor on Today at 06:51:19 AM

Let's consider bitcoin, the largest cryptocurrency by market capitalization, as a proxy for the broader cryptocurrency markets. On Nov. 11 of last year, the petition date, bitcoin was trading around $17,000. On Friday, it crossed $30,000."

And chances are that bitcoin will be higher than it is now by the time FTX actually starts sending the money to their debtors, meaning even bigger loss.

I talked with few friends who have money stuck in FTX and they all pretty much say that is the least of their concern and at this point they would be happy if they get 100% of the money out even if it was only in the dollar value as they already accepted that they lost everything they had there.

I doubt that the status of people's desperation should be a reflection in regards to what should be done, and surely there is a bit of a problem in these kinds of situations in which the entity may well not have been holding value in the asset that they claimed to have on the books and the recovery of value might end up taking place in other assets, so there can be some difficulties resolving the books if the trustees are recovering value in various kinds of assets and then reflecting that value in dollars, but a decent number of claimants are wanting to receive bitcoin that may or may not end up being recovered. Many of us lay persons are not going to have a lot of information regarding what were the claims versus what were the recovered assets and if they might not even have the bitcoin to reimburse but they might have dollars or they might have property.. and sure some of that will get converted (such as the property), and most likely converted into dollars.. so then if the exchange ends up having obligations to reimburse into the asset that the claimant had there (especially the more common coins, such as bitcoin), then does the estate then need to go into the market and buy bitcoin.. maybe that would be the most just thing in this kind of case, even if they are recovering assets and converting into dollars.