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News

Users FTX Might Only Get About 1 % Of Their Assets

November 18, 2022 - Around 2 mins mins to read
The former partner of Spartan Capital predicted there will be another subsequent effect of the FTX collapse that users of FTX can only get about 1% of their assets in 5-10 years because no one is willing to buy FTX’s assets.
Jason Choi
Users FTX Might Only Get About 1 % Of Their Assets 2

According to Jason Choi, FTX international users get cents on the dollar in 5 to 10 years as assets are considered to be of no value, leading to no buyers besides Alameda. Add to this, He took the example of Bernie Madoff receiving 85c.

Additionally, Jason Choi also gives predictions about investors losing their confidence in crypto in the next few years due to the recent incident.

As for Sam Bankman-Fried, Jason Choi believes that the media will keep portraying the former CEO of FTX as a “benevolent philanthropist” who made a mistake

Senior execs will continue to disavow FTX’s actions. Some have pulled capital using insider access and will ride off into the sunset. Some scapegoat goes to prison and that’s it

Jason said

After the bankruptcy declaration of FTX, the general has the tendency to be afraid of a lack of suppliers, but the most important point is “who’s left to buy?”. “The decoupling happens but not in the way we think. When risk assets return due to the macro reverting course, crypto will have an idiosyncratic weakness“. – Jason added

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

CoinCu News

assets

FTX

Jason Choi

Prediction

Spartan Capital

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

Users FTX Might Only Get About 1 % Of Their Assets

The former partner of Spartan Capital predicted there will be another subsequent effect of the FTX collapse that users of FTX can only get about 1% of their assets in 5-10 years because no one is willing to buy FTX’s assets.
Jason Choi
Users FTX Might Only Get About 1 % Of Their Assets 4

According to Jason Choi, FTX international users get cents on the dollar in 5 to 10 years as assets are considered to be of no value, leading to no buyers besides Alameda. Add to this, He took the example of Bernie Madoff receiving 85c.

Additionally, Jason Choi also gives predictions about investors losing their confidence in crypto in the next few years due to the recent incident.

As for Sam Bankman-Fried, Jason Choi believes that the media will keep portraying the former CEO of FTX as a “benevolent philanthropist” who made a mistake

Senior execs will continue to disavow FTX’s actions. Some have pulled capital using insider access and will ride off into the sunset. Some scapegoat goes to prison and that’s it

Jason said

After the bankruptcy declaration of FTX, the general has the tendency to be afraid of a lack of suppliers, but the most important point is “who’s left to buy?”. “The decoupling happens but not in the way we think. When risk assets return due to the macro reverting course, crypto will have an idiosyncratic weakness“. – Jason added

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

CoinCu News

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