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TL;DR
Full Story
If you lost money in FTX, we have some good news, and some bad news.
The good news is:
The estate claims that 98% of creditors should receive at least 118% of allowed claims in cash within 60 days of their payout plan coming into effect.
Translation: you should be getting your money back, plus a little extra on top.
In fact, the FTX estate currently estimates that once all of the property that has been collected has been converted to cash — the amount available for distribution will be between $14.5B and $16.3B.
(For context — when FTX went kaput, the firm lost an estimated $8B in customer funds).
The bad news is:
Creditors will be receiving their payouts in cash
…so if you had a bunch of crypto that has since appreciated more than 118% — like for example: BTC, which has increased ~300% since FTX went under…
Then you’re going to be taking a loss.
Not great. But better than nothing.
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