Big news, FTX users are finally seeing refunds hit their accounts! 🎉💾 According to Reddit reports, creditors with claims under $50K are getting their money back via Kraken.

$BTC

BTC
BTC
68,992.36
+4.07%

💰 Where’s the Money Going?

đŸ”č So far, $800M out of a $1.2B payout has been sent ✅

đŸ”č 162,000 accounts paid—but that’s just 35% of the 460,000 claims đŸ€Ż

đŸ”č Split 50/50: Half goes to OG FTX users, half to debt buyers who bought claims at a discount 💾🔄


💳 How’s the Payment Happening?

đŸ”č Funds are moving through BitGo & Kraken đŸ’Œ

đŸ”č Expect 1-3 business days for transfers ⏳

đŸ”č FTX set aside $7B for this phase, aiming for a $17B total refund 💰🚀


📈 FTX Recovery Rates

✅ Claims add up to $11.75B

✅ 100-142% recovery for secured/customer claims 💎

✅ 123-138% overall recovery rates—way higher than expected! đŸ”„


👀 Market Impact?

đŸ”č Some creditors cashing out ASAP 🏃💹

đŸ”č Others holding or reinvesting—could shake up the market! 📉📈

đŸ”č FTT token on watch as funds move 🔍👀


⚠ Lesson Learned? Self-custody is king! 👑🔐

Crypto advocate Mr. Purple warns: "Keeping funds on CEXs is a risk. Self-custody is the only real ownership!" 🚀🔒


đŸ”„ And what about SBF?

đŸ”č Sam Bankman-Fried got 25 years in prison in March 2024 âš–ïžđŸ”’

đŸ”č His lawyers are appealing, and his parents want Trump to pardon him 😳

đŸ”č This comes after Trump already pardoned Silk Road’s Ross Ulbricht đŸ€Ż


🚀 Crazy times for crypto! Will FTX creditors reinvest or walk away forever? đŸ€”đŸ’ž


#FTXRefunds #CryptoRecovery #FTXScandal #HODL #NotYourKeysNotYourCoins