🕯️ The Fourth Anniversary of the FTX Bankruptcy: 2022.11.11—2026.11.11

Seeing this image again brings a lot of feelings. Those who experienced the bear market of 2022 should still remember the events that took place during those days.

On November 2, Alameda's balance sheet was exposed;

On November 6, CZ announced he would sell all FTT, and Alameda's CEO publicly stated he was willing to take over at a price of $22;

On November 7, SBF confidently assured on Twitter that everything at FTX was normal and user assets were safe;

On November 8, Binance announced it was considering acquiring FTX, and the market briefly thought there might be a turnaround;

On November 9, Binance abandoned the acquisition;

On November 11, FTX officially filed for bankruptcy protection.

Four years later, while FTX's creditors have gradually received compensation, the compensation is mainly calculated based on the dollar value at the time of bankruptcy in November 2022.

Assuming you had 1 BTC stored at FTX, the estimated value of the claim at the time of bankruptcy was only about $16,900, and it was difficult to receive 100% compensation.

Many people understand wealth growth as constantly seizing opportunities, but those who have experienced a complete cycle should understand that being able to retain the money that has already been earned is itself a severely undervalued ability.

I hope everyone has moved on, and I also hope we can have fewer such costs in the future!

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