FTX to refund customers at Bitcoin's prices below $18,000
Crypto exchange FTX has decided against resuming its operations and instead will proceed with asset liquidation to refund its customers, Reuters reported on Wednesday. However, under US bankruptcy proceedings, repayments will be calculated based on Bitcoin’s value in November 2022, specifically when Bitcoin was trading below $18,000.
https://cryptobriefing.com/ftx-refund-bitcoin-customers/Is this has been discussed already?
What are your thoughts about this one? For sure those who lost money in the FTX collapse will have to find console in getting some from FTX itself. But I don't think this is fair to their customers if they will be calculated on Value of Bitcoin in November 2022, just saying.
It should be in full and should be based on the numbers of Bitcoin they have in this exchange, in my opinion.
I am unfamiliar with, bankruptcy code that article is referring to, but seems really weird that they picked the lowest point for it, or that they are changing btc to monetary equivalent value in the first place. Weren't mt gox victims getting their btc back in btc? Also at the start of the November 2022 ftt was still priced at $26.11, are people getting their ftt value back from some date, because few days after bitcoin dumped and ftt crashed with it. But what about people who fomoed in all the ftt the cex when it was dirt cheap? What do they get?