- FTX customers repaid based on old prices, not current value
- Parents say no loss, but creditors strongly disagree
Sam Bankman-Fried’s parents have confirmed that the collapse of thecrypto exchange FTX did not result in any customer money loss. In a recent interview, they asserted that customers are currently receiving full repayments with additional interest. They believe the evidence shows that the case against their son was unfair.
FTX Repayments Based on Old Prices
However, many FTX customers and creditors strongly disagree with this claim. FTX has started returning funds, and billions of dollars have already been paid back. Some users are even receiving more than 100% of their original amount in dollars. But the payments are based on crypto prices from 2022, when the exchange went bankrupt.
Bankman-Fried’s parents also defended how funds were used. They said that the transfer of customer money to Alameda Research was a normal business activity. But regulators strongly disagree. After the FTX collapse, many new rules were introduced to stop companies from using customer funds in this way.
The case has also taken a political turn. The parents believe politics influenced the case and are requesting a pardon from U.S. President Donald Trump. However, Trump has already said he does not plan to pardon Bankman-Fried.
Bankman-Fried is currently serving a 25-year prison sentence. He is also trying to appeal the case and request a new trial. The outcome is still uncertain, but for now, his conviction remains in place. While FTX is returningfunds to customers, there is still disagreement about whether investors have truly recovered their losses.
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