TL; DR
Full story
If you lost money in FTX, we have good news and bad news.
The good news is:
The estate claims that 98% of creditors must receive at least 118% of permitted claims in cash within 60 days of their payout plan taking effect.
Translation: you should get your money back, plus a little extra on top.
In fact, the FTX estate currently estimates that once all of the accumulated real estate is converted into cash, the amount available for distribution will be between $14.5 billion and $16.3 billion.
(For context, when FTX went bankrupt, the company lost an estimated $8 billion in customer funds).
The bad news is:
Creditors will receive their payouts in cash
…so if you had a bunch of cryptocurrencies that have since risen in value by over 118% – like for example: BTC, which has risen ~300% since the FTX went down…
Then you will take a loss.
Not good. But better than nothing.
