Did FTX Customers Get SCREWED? #ftx #fraud #sbf #allinpodcast
00:00:00.000 | FTX deposits are getting paid back in US dollars, not the crypto that dollar amount is based on the
00:00:05.200 | price of their tokens at the bankruptcy date. The bankruptcy date was November 11 in 2022.
00:00:09.920 | Super important, because the report that started the run on FTX was published November
00:00:14.800 | second, a couple of days in between those two dates, and a bunch of crypto plummeted Solana
00:00:19.840 | dropped 50% between November 5 and November 11. That's just one example. But since then,
00:00:24.240 | Solana has been up 11x bitcoins up 4x Ethereum doubled. So if you wanted these depositors,
00:00:29.440 | you missed that run up. The trustee has been selling the tokens post run up. The point is
00:00:35.440 | that he's selling tokens at current prices, call it 188, and then using that to pay off
00:00:41.680 | depositors at $16. So the only reason the depositors have been quote unquote made whole
00:00:47.520 | is because they're getting the benefit of this run up, but they're not paying them back at the
00:00:51.040 | price of their Solana today, they're paying them at this price that got fixed at the time of the