On: FTX says it has billions more than owed to victims

[branon]

Wait, so SBF was right? Wasn't this a big part of the stuff he wouldn't shut up about? That he could pay it all back?

[zozbot234 → branon]

It's very different. Pre-bankruptcy FTX would have owed crypto, so increases in crypto prices (other than FTX's own bespoke "token") would not have helped. Post-bankruptcy, FTX owes cash based on historical (lower) crypto prices. So no, SBF is not quite right.

[anonuser1234 → branon]

Whether SBF was right or not does not exempt him from the fraud that was commited

[matthewdgreen → branon]

They lost a ton of their customers' crypto. They're paying people back in cash at prices that are now 1/3 or less of the value of the crypto that customers deposited with them.