FTX Found the Money (2024)

FAQs

Did anyone get their money back from FTX? ›

FTX customers will get their money back and more—but the biggest winners are bankruptcy traders. Sam Bankman-Fried, the former CEO of FTX, is serving a 25-year sentence. In a rare outcome for bankruptcy, customers of the failed cryptocurrency exchange FTX will recover all of their money—and then some.

FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.

The company said it recovered property valued between $14.5 billion and $16.3 billion, drawn from assets held by the U.S. Justice Department, authorities in Australia and the Bahamas, and dozens of private parties.

Another bucket was this many, many, many investments that FTX made, often using customer money to do so in all sorts of ventures, speculative crypto projects, new tokens, and some that actually really appreciated a lot over time. For example, FTX owned a significant stake in Anthropic, which is an AI startup.

Since filing for bankruptcy, FTX has recovered up to $16 billion to repay customers, including about $12 billion in cash, and it says it will repay all customer claims in full, with interest.

Login to the Customer Claims Portal using the same username and password you used to create your FTX account. If you opted to sign in with your Google or Apple account, login using the applicable method. FTX account: Email, SMS or Authenticator app. Click Submit.

Sequoia Capital likely suffered the greatest loss for an outside investor in the exchange with its $200 million investment, which peaked at $350 million in January 2022, according to data obtained by Forbes. RELATED: Who Is FTX Founder Sam Bankman-Fried?

It began with the CoinDesk article and the leaked balance sheet. Binance initially announced it would sell all its FTT tokens because of the mishandled and blurred funds. The value of FTT dropped significantly, prompting FTX customers to withdraw money from their accounts.

Customers of the failed cryptocurrency exchange FTX are poised to recover all of the money they lost when the firm collapsed in 2022 and receive interest on top of it, the company's bankruptcy lawyers said on Tuesday.

How much did FTX wipe out? ›

Those called in to clean up the mess soon discovered that up to $9 billion in customer deposits were missing.

A United States court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7bn in relief to its customers, the Commodity Futures Trading Commission has said.

FTX Has Billions More Than It Needs to Repay Its More Than Two Million Customers - Bloomberg.

FTX said in a Monday court filing it owns $3.4 billion in cryptocurrencies, including $1.16 billion in Solana, $560 million in bitcoin, and $192 million in ether.

All of FTX's creditors, except the government, will get 100% of their money back in cash plus interest, the bankrupt cryptocurrency exchange's estate said late Tuesday.

Distributions for BlockFi clients who were placed or opted in to the Convenience Class commenced in February 2024, and are currently ongoing. Convenience Class participants are entitled to a 50% distribution on allowed claims, up to $1,500. Distributions will be made in USD or CAD, depending on your location.

FTX users. FTX has 1.2 million registered users across its platforms, although it has not updated this stat since the start of 2021.

Hedge funds including Diameter Capital Partners, Canyon Partners and Farallon Capital Management scooped up an $874.5 million obligation FTX owed to BlockFi Inc., according to people familiar with the matter, marking the largest trade to-date in the surging market for debt tied to Sam Bankman-Fried's fraud-tainted ...