FTX creditors in the Eurozone will receive repayments in euros based on 2022 closure prices, plus processing fees of up to 30%.
An email has been sent to EU creditors, and initial payments may start as soon as next Monday, pending approval from the Cyprus Securities and Exchange Commission.
Users can check their balances through a dedicated portal, but repayments will be subject to market currency risk and pending court fees.
Nearly two years after FTX’s collapse, some crypto assets will be compensated at significantly lower rates than current market prices, such as Bitcoin at $16,486.31 and Ethereum at $1,241.45. The bankruptcy has also led to an increase in phishing scams targeting EU holders.
Despite the challenges, FTX has managed to liquidate assets to maintain funds for repayments, while the FTT token has seen increased trading activity.
Total payouts could approach $12 billion, but bankruptcy fees may exceed this figure, complicating recovery for creditors.
Robert Kiyosaki, author of the book “Rich Dad, Poor Dad”, issued a serious warning for the US banking sector, saying that the serious downturn has already begun.
Berkshire Hathaway, under Warren Buffett’s leadership, has significantly reduced its Apple holdings for the fourth consecutive quarter, now valued at approximately $69.9 billion, down from a peak of $174.3 billion in late 2023.
The cryptocurrency giant Ripple reported substantial growth in Q3, with increased transaction volumes on the XRP Ledger.
China Central Bank’s deputy governor, Lu Lei, recently explored the ideas of Nobel laureate Robert Mundell and Bitcoin’s elusive creator, Satoshi Nakamoto, in his new book.