Interesting development:
(Bloomberg) -- Cryptocurrency exchange FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries, plus interest, a rare outcome in US bankruptcy proceedings. Most Read from BloombergTrump Judge...
finance.yahoo.com
The assets may be worth more than what they were at the time FTX crashed, but the creditors are still only really getting back 25% of what they lost.
I think that depends on how you look at it. They're getting back 100% of their initial investment but no unrealized gains.
I think the way it works, is that the day FTX filed for bankruptcy, there is a snapshot of all creditor accounts (including average Joe investors). That number is what FTX is working towards to repay all investors.
FTX ultimately crashed when crypto crashed, but I think most of the big coins are 2-3x what they were when that happened, and it's taken 2 years or whatever to potentially get paid out. So nearly everybody is out a large portion of what they put in, but they are all getting what they would have gotten if a fully-funded FTX liquidated two years ago.