FTX customers don’t want refunds, they want their crypto back

Approximately 300 pages of letters from around the world detailing victims. actually The person missing in the collapse of cryptocurrency exchange FTX was referred Monday to a federal judge in charge of the criminal case against the founder.

conspiracy: All unhappy creditors are unhappy in their own way, but many said that it was not enough to be whole, that what they wanted was their coin.

Zoom in: 🇦🇺 “I didn't gamble with leverage trading or random memes/scam coins. I researched quality projects and made long-term investments to change my life,” says a 24-year-old man from Australia. wrote the judge. “If Sam hadn't stolen my investment, this would have given me a very good return.”

• 🇹🇷 A person in Turkey holds $7,356.68 in coins such as CEL, DOGE, LTC, LUNC, TRX, and XRP as of the November 2022 bankruptcy filing date, which is the amount that will be fully recovered. He said that. They also mentioned how much it is currently worth.
• “After all, my 2 Bitcoins are my property. It's not $140,000 or $32,000, it's 2 Bitcoins,” another victim wrote.
• 🇮🇹 “I demand my assets back to me, I don't want dollars!!!” said a person from Italy.

The big picture: The letter is a victim impact statement and is intended to help a judge sentence Sam Bankman Freed next week.

• These are intended to explain the mental, physical, and financial effects that victims have suffered as a direct result of the defendant's crimes.

There were many The former is for the judge to understand.

• 🇻🇪 Someone from Venezuela said he lost his life savings, admitting that his savings were not millions, but covered his basic needs and gave him the opportunity to immigrate to another country . (translated from Spanish)

In some cases, Had I kept my life savings away from more speculative investments, I might have saved the day. Debt was also bad.

• 🇨🇦 Diane from Canada invested CAD 100,000 in FTX with her husband. They said they were confident in doing so because the name “FTX” is all over “buildings, commercials, and even celebrities.”

• “In addition to nine years of savings, my wife and I took out $220,000 in personal loans to purchase Bitcoin on the FTX platform,” the computer science professor said.

There were some People who invested in altcoins and memecoins:

• One person said, “I bought as**tcoin ($BOBA) and broke the bank,” but they don’t seem to be directly blaming Bankman Freed for that. 🤷

Others want their own flesh, Like these people:

• “Your Honor, I implore you to consider not only the economic inconsistency but also the human cost of his actions when considering the appropriate sentence for Sam Bankman Freed,” one person wrote. said.
• “I'm asking for a minimum sentence of 30 years, to at least make up for the years of life he took from me and thousands of other people.”

What we're seeing: If SBF is ultimately sentenced to 50 years in prison, it would be a life sentence. Assuming he serves his entire sentence, he will be 82 years old at that point.