Topic: FTX recovered $7.3B in Assets and is considering restarting! - page 4. (Read 1156 times)

I don't really understand that!!!! Do you think that the current condition of market is only for the Luna and FTX incident ?!
Dude the current situation is not caused by them The market moves at its own flow. The market runs with these two seasons, bearish and bull, and each crisis comes after a certain time. Now it is on his bearish season and the next halving is not so far I think those recovery of market will also depend on those.

The story with FTX is very unclear. So far there is no news on how they are going to rebuild the exchange and how they are going to return users' funds. All there is at the moment is just news that they are going to pay out money and FTT's token pumping has happened.

Of course this is good news, this will have a better effect and the market will continue to move positively, let's wait to see if the other big case, namely LUNA, will be able to recover again, if LUNA can recover then the market will easily recover even past the previous ATH happening in 2021.

it's matter of whether they gonna fall in the hands of new management I guess, even then i'm sure the new management will somehow reach out to the former management, I think you have good point, their reputation is just too tainted at this point that at every of their move will instead trigger massive suspicions, there's also chance as you said that they are planning an even bigger exit but i'm sure everyone gonna be watching this company constantly and sees if there's anything strange, hopefully though the people that deserve reimbursement and refund gonna get what they deserve that the first priorities right now.

For sure there would be people who would really be still risking out and there are even who would really be buying up FTT on this case
https://www.coingecko.com/en/coins/ftx-token For now we arent seeing some significant move which it does really shows up that people cant really just easily forgotten on what they have done.
Some do give out their support and based up some on research they would be funded up by Tribe capital? https://cryptoslate.com/ftx-relaunch-could-be-funded-by-tribe-capital/

Are they really that too desperate on relaunching despite the fact that there might be no people or good numbers would be using up their platform once again?
Recovering an asset of 7B, how they've done it? Are there any news in related on how they do able to get such huge amount stolen or recovery?
I agree on what most people been saying up on here that it cant really be that so simple or easy on forgetting on what they have done.

There has been a very positive impact on FTX's planned return to the industry, but surely who would have so much faith in their reputation the second time around? There must be a lot of people asking, what if they were planning an even bigger scam that would make this industry crash even harder than before. I would doubt them, a lot of people would doubt it, but the positive thing is about people getting their money back.

I wouldn't put them as one of the platforms I would trust for any amount of money if they came back, it just puts me at risk because their past track record is too dismal. But who knows, they might still improve their reputation and compete to be first.

even though it seems many are rather doubtful that they'd gain their former reputation, even many are hesitant in giving them second chance but I think that there will be some people that actually gonna use their platform once more, but the most important thing is that if they ever did consider restarting then many will get their money back which is a good thing, putting aside the fact that there might be many that would be hesitant to use their platform once more, it's right though, financial company losing its customers fund seems like it's already the end for them no need to further trust them with our money if they are not really have the ability to keep it from just vanishing into thin air.
but i'd still appreciate any effort of getting back people's money since many are affected by the collapse of this company.

Most of us won't be a fool because we won't give them a 2nd chance but I guess in some case, there will be a few that will want to risk and gamble again on them.

And that's because they might see people talking about that they have finally recovered and the situation and the tension from them has gotten low.

Regardless of that if it's money, we won't be like that but for them, they might tolerate and only do with certain amount that's easy for them to lose.

Developing a token rp pay customers back is going to cost extra for the already bankrupted FTX and that could become a possible way for more delay for investors to get a true refund, but also since the majority of the planned reimbursement is through insurance it becomes more investors friendly and confident building and those of the investors who already filled to refund processed via the third party site will get a refund but when that will be my not be certain.

Since tthisprocess will involve a lot of steps before getting clarification and verification via the third-party insurance refunds.

What we do expect? If things turns out to be a mess then anything or everything which is attached to it would be completely be sharing up with that domino effect which is something not really that shocking if we do speak about those consequences where if that turns out to be shit the the rest would be following in speaking about those offerings and other connections about this certain company. Yes its true that we do have lots of options to be able to make use of, then why would people should really be making of use with FTX again if it does have that bad reputation in the first place? Yes, they had able to manage to recover up those
funds but as mentioned that SOL price arent high comparing into those previous years which does simply imply that they would really be staling once again.

Somewhat having that recovery is really still a good news because at least its users do still have that glimpse of hope that they could really get their money back but of course just as said that it hope that it wont
really be just as the same on what happened on Mt. Gox which it might really be resulting to a very long years of drama and postponement when it comes to releasing those funds.
So its better not for them to anticipate nor expect much that they would really be getting on the same support just like there's  nothing happened.

And this really bothers me, why was an exchange using money of their customers to buy a video game company? I could understand if SBF did this with his own money, as he can do whatever he wants with it, but using the money of his customers this way it is the same as spitting them on their faces, basically he did not care at all about the consequences of what he was doing as long as he got what he wanted, and while he deserves to go to jail, it is not a sure thing he will.

Well I am in agreement with you. There so many other crypto exchanges we can use and not a exchange that fell apart and stole money from its customers. We do not know if it is going to happen again so why just risk that.

A online video game called Storybook Brawl was acquired by FTX. It was SBF favorite game and now it will also be shut down.

https://www.pcgamer.com/ftx-collapse-has-done-lethal-damage-to-an-up-and-coming-card-game/

What the actual f... Recovering funds: Great, I am happy for the people affected, hopefully they get some of their coins back.
Regarding reopening FTX: Are they serious? A name as shit-stained as FTX is... and now they want to come back. Cannot believe it.

Btw, if you were like me and wondered if this may be fake news - seems like it's real: https://www.reuters.com/technology/bankrupt-crypto-exchange-ftx-has-recovered-73-bln-assets-attorney-2023-04-12/

I truely wonder f they at least consider a re-branding. The big scam-whales in the background and the scam-tech (software) maybe even with the original backdoors for private profit may stay the same.
But at least they have to change the front-fassade to get any chance at a comeback with lots and lots of clueless new customers.

Its strange in crypto that they might restart under their own name, if this was plain finance the accounts would be amalgamated under a more trusted brand possibly non customer facing but which was able to secure funding and trusted by other banks as reliable in their accounting etc.

The brand name in any way now being worth anything after being so unreliable in their dealings just seems extraordinary.

There's no second chance and we are indeed talking money on here which means that if they had failed out on customers or clients money in the first place then how much more on the second one?
People wont really be that a fool on entrusting up their funds into something that had broken out their trust. Just like on what others been saying about rebranding then it would be useless because
people wont really be trusting them again. There's no point on restarting or relaunching even if they would be changing up all the management, it wont really be making out a difference.
Therefore it would really be just useless if they would really be relaunching again.

Now the thing on what on peoples  mind is on how to get those funds back specially to those who had been affected.For sure they wont really be having any plans to store up their assets anymore longer.
As long they would really be having a getting hold of it then they would surely be pulling it off and would be going into other platforms which it doesnt really have any issue and bad history
something like this on where piling up some bankruptcy but in the end the funds were intact? Did they've been hit up with some conscience?

Giving a second chance isn't applicable on this situation. They're a financial company and we don't want get problems with our finance/assets for the second time around.

I think everyone has learned their lessons that when a company has gone bankrupt and the issue is related to the unclear spending habits of its CEO and co-founders, you don't want to give them no chance anymore.

The verdict has already been given and even with the new management, the issue is still quite fresh and is there. But then, let's see if they'll manage to get up from that failure.

Yeah, that's true, why would you give a chance to a place that already made a mistake and failed? I mean why would I not go with something that never made a mistake to begin with. Look at bitcoin, have we ever said "oh sorry, give it another chance" so far? Of course not because it's decentralized.

FTX is an exchange and so far every single exchange that failed, stayed failed because they can never get those people back. They have some investments and they should just pay the investor's back with all of that, and that is only if it is true. I still suspect that all of this is just made up and they haven't recovered anything and they just figured out a way how to get that much money, but they won't and nothing will be better for them ever again, and CEO is definitely going to jail without a doubt.

Those people that will say, give them a chance but even if I haven't used them at all. I'll never give it a second try or even once. And those victims are gonna wait for their refund from the fiasco they're involved with.

You just better not by any means of condition they set. If you have no business with them including the recovery, it's best to stay away from them.

Investors still won't believe if FTX recovers their losses and brings the market to market. Sam Back Man (SBF) will not invest a second time in the platform of a person whose platform is destroyed and thousands of people are robbed of their money and who eats his mother's cooking instead of being in jail. My long-term belief is that I myself will not invest in the Ftx platform because there is no way this platform will go back to where it was before. This activity will not improve the current investment market. If it were possible then the unique platform that was destroyed would have been raised.

Yes I did see this but let us be real about this. Why would someone want to put his crypto into this exchange ever again? It does not make sense for FTX to try this again.

They would need some thing like not having to pay fees for trades. Or there needs to be something to make me want to risk sending money here. It is like if Mt. Gox did come back. I do not think people want to give them any of his business.