Crypto News: FTX Creditors Become Irate Over Low Minimum Payouts Amid Regulation News
Crypto News Update
FTX creditors are voicing their dissatisfaction regarding the minimum payouts they are set to receive after the exchange's collapse. The ongoing regulation news concerning these payouts has sparked outrage as FTX prepares to distribute $16 billion to its lenders.
FTX Lenders Unhappy With 10-25% Repayments
As reported by BeInCrypto, the crypto creditors will receive between 10% and 25% of their original investments. These repayments are based on the petition date prices, which were significantly lower than the current market values.
- Bitcoin (BTC) was priced at $16,000 during the petition date.
- Current Bitcoin prices are around $65,000.
Creditors argue that this reimbursement strategy will not adequately address their losses, leaving many without sufficient recovery of their funds. Emotional distress has become common among these affected individuals, with reports of severe mental health impacts emerging due to the collapse.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.