FTX Users Seek Return of Crypto Assets, Not Dollars
In a collection of letters, FTX users around the globe have asked for their crypto assets instead of being reimbursed with US dollars.
In letters submitted to the federal judge presiding over the criminal case against Sam Bankman-Fried , the founder of the crypto exchange, FTX users expressed the desire to receive their cryptocurrencies back.
They said that they had invested in quality projects and made long-term investments with the hope of changing their lives.
However, their dreams were shattered when their investments were allegedly stolen by Sam Bankman-Fried, the founder of FTX.
One victim, a 24-year-old from Australia, wrote to the judge, expressing the impact of the loss: “This would have paid off very well for me, had Sam not stolen my investments from me.”
Another victim from Turkey detailed the specific coins they held, such as CEL, DOGE, LTC, LUNC, TRX, and XRP, at the time of the bankruptcy petition in November 2022.
They emphasized that their assets were not merely dollar amounts but represented their property.
“In the end, my 2 bitcoins are my property, it’s not $140,000 or $32,000, it’s 2 bitcoins,” they wrote.
The sentiment of wanting their assets returned is echoed by victims worldwide.
An individual from Italy demanded the return of their assets, expressing their preference for their original coins rather than receiving dollars.
These letters, known as victim impact statements, serve the purpose of helping the judge determine the appropriate sentence for Bankman-Fried.
The emotional, physical, and financial toll experienced by the victims is palpable in their statements.
A person from Venezuela revealed the loss of their life savings, which, though not in the millions, was
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