
FTX, a bankrupt crypto firm, faces increasing claims from customers as crypto prices surge. Bankruptcy claims now approach 93 cents on the dollar, with some customers expecting payouts of 120-140% of their assets' original value. A small group demands hundreds of millions for 'Sam Coins,' contested by FTX. The company challenges the value of 'Sam Coins,' arguing they should be negligible or zero. FTX's bankruptcy estate faces criticism for missed opportunities, while a luxury jet linked to FTX's co-founder is seized by US authorities.
FTX’s bankruptcy estate missed an opportunity to create a valuable business from the ashes of the cryptocurrency exchange, some creditors say https://t.co/LTgKeDbrdD https://t.co/LTgKeDbrdD
‘Old-fashioned embezzlement’: where did all of FTX’s money go? https://t.co/nukbm4mvfl
In other financial mania news, FTX is on track to repay its customers up 40% more than the initial value of their claims because of surging crypto assets. https://t.co/MnJFfmfD41
