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FTX Coughs Up $5B—Bankrupt Crypto Giant Finally Opens Wallet for Creditors
FTX Coughs Up $5B—Bankrupt Crypto Giant Finally Opens Wallet for Creditors
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After years of legal wrangling, FTX is cutting checks—not excuses—as it prepares to distribute over $5 billion to creditors. The collapsed exchange’s estate is finally liquidating assets, turning vaporized crypto back into cold, hard cash.
Who gets paid first? Lawyers, obviously. Then come the traders who trusted Sam Bankman-Fried’s ‘risk-free’ empire before it imploded in 2022. The clawback process has been messier than a DeFi rug pull, but payouts are now imminent.
Funny how bankruptcy forces even crypto’s ‘disruptors’ to play by old-school finance rules. Maybe next time they’ll keep reserves above ‘trust me bro’ levels.
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