FTX customers will be getting more than what they have lost. But many are calling it a hoax?

FTX customers will be getting the long needed closure they need, after two years since the doomed exchange collapsed.

During Monday's hearing, Judge John Dorsey finally approved a $16 billion repayments to investors who have lost their hard earned money during the FTX scandal. On top of the original sum they invested, they would be rewarded with an extra 18% interest

While this should signal a good ending to the whole saga but investors are enraged by the amount they will be reimbursed, arguing that they could have gotten 4X of what they were receiving given the current rates of cryptocurrencies!

Investors could have gotten 4X more

So let me explain... The amount investors are getting right now is based on the cash value of their account back in November 2022. While this would make very little difference to fiat owners, the same cannot be said by Bitcoin and other cryptocurrency owners.

Why? Because a person who had 1 BTC or 10 SOL will be entitled to about $18,667.... Substantially less than what this crypto stash is worth at current market rates.

This would be a huge kick in the gut for those who have trusted in the promises of Sam Bankman-Fried. Due to the incompetencies and mismanagement of the company, investors have lost out on a huge rebound in the crypto markets that could have turned them into millionaires.

A one in a million case

Many critics have asked FTX investors to count their blessings, arguing that they have already received the best ending they could have gotten.

Many of the bankruptcies not only take decades to resolve, but got only a small percentage of thier money back. In the Celsius Network case, customers also managed to get back 67% to 85% of the funds they had lost. There are also many cases where investors got nothing back in return. Situations where investors could not only get back what they invested but more, like the case of FTX, could be seen as one in a million!

Another blessing from this case is the turn around rate of the case. In the case of FTX, it only took under 24 months to close the case and return the money back to the customers. This is also another remarkable feat. Analysts have said that this was only possible because of the instrumental role that Caroline Ellison played in the case.

With these factors accounted, investors should be more than happy with the closure they are receiving and they can finally move on from this case.

"Justice best Served Cold"

Sure, FTX customers could have missed out on a crypto rally, but this is a pessimistic way of looking at the situation as there will be plenty more bull markets to catch in the future.

Instead, the best phrase used to describe their current situation is that "justice has already been served cold." Not only did they get back every single cent they deposited into this exchange, but they are getting an extra fat chunk on top of that.

This extra interest would have far exceeded the interest they would have earned in a savings account. Furthermore, with Sam Bankman-Fried sentenced to 25 years behind bars and Caroline Ellison beginning her two-year jail sentence, victims can feel like justice has been served.

While FTX customers did go through a tumultuous time with no shortage of stress, anxiety, anguish, and financial hardship, there is no point of reminiscing about what has been lost. Its time to move on!