Category: Investigations
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FTX Bankruptcy Plan – Here’s the recovery rate for each coin
FTX has recently filed it’s widely awaited Chapter 11 bankruptcy exit plan, in this plan we learn exactly how the distributions will work, for customers and some other creditors. The Breakdown (from Thomas Braziel on X): From realized funds alone, enough liquidity is available to cover customer payouts and the variablity (the difference between optimistic…
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Crypto Lenders – The worlds most incompetent loan sharks
What links Alameda, Gemini lending, Roger Ver, 3 arrows capital & FTX, and technically also bitconnect? The first crypto lending platform was probably the well known ponzi scheme Bitconnect, which paid an insanely high interest rate of “1% / day” for around a year before collapsing. Bitconnect claimed that their ‘lending program’ would borrow your…