🏅 Top traders

From Perplexity:

There are two main groups of FTX creditors with different criteria for repayment:

1. Convenience Class:

   • Creditors with claims of $50,000 or less

   • Represents 98% of FTX creditors by number

   • Will receive approximately 118-119% of their allowed claims

   • Payment will be made within 60 days after the plan's effective date (set for January 3, 2025)

2. Other Creditors:

   • Creditors with claims exceeding $50,000

   • Will receive 100% of their allowed claims plus additional compensation

   • May receive interest at up to a 9% rate (the "Consensus Rate") from the start of the chapter 11 cases through the distribution date

   • Some may have the opportunity for additional payments through the Supplemental Remission Fund

Why is this so high? Does anyone know? Aren't the assets gone?

@jBosc https://www.axios.com/2024/02/06/ftx-repay-customers-creditors-investors

FTX customers and creditors are likely to be repaid in full, an attorney for debtors of the failed crypto exchange last week told a Delaware bankruptcy court.

https://www.investopedia.com/why-ftx-plan-to-refund-90-percent-of-recovered-assets-doesnt-add-up-to-90-percent-of-what-customers-lost-8362556

https://watcher.guru/news/bankrupt-ftx-recovers-7-3-billion-in-assets-as-it-considers-a-q2-relaunch

Not sure on source credibility

FTX Bankruptcy Estate to Claw Back $460M From Modulo Capital

What percentage, but the options are yes and no?

@Jason this resolves to the percentage that they get back. 100% back resolves Yes, 0% back resolves No

@ahalekelly What about 40% then?

@Nils resolves 40%

https://www.reddit.com/r/CryptoCurrency/comments/yr8q57/there_is_a_confirmed_leaked_messages_from_sbf_to/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button

Will FTX retail investors get their money back?, 8k, beautiful, illustration, trending on art station, picture of the day, epic composition