I think the above is correct, on top of what Elizier has written one should also consider the legal issues around this mess.
I’m by no means a lawyer and so this is definitely not legal opinion, but it’s very likely that this will be mired in bankruptcy procedures for a very long time (Lehman Brothers is still unwinding for instance) and even if the money was returned to FTX ventures it isn’t certain that it would then be sent on to the ultimate people that you think are most deserving (i.e. the ones that had their accounts wiped out). It sounds as though the structure overall was a shit show and there were multiple entities in between, so where each account was held and how those liabilities sit in terms of priority of debt is probably very very unclear. There are still some chances that there will be some amount of money given back to the account holders as well.
In addition (and this might be even more controversial), I hope that the people that did get wiped out were using money that they could lose to some degree. Keep in mind that they were investing in crypto in offshore exchanges, and although FTX was thought to be a trustworthy partner, the entire space was known for scams and other mess, so hopefully there was an element of buyer beware for mos t of the account holders.
(Separately from all issues above, if you hold yourself responsible for returning money, you definitely should not be trying to return money now,while the FTX accounts are still being looted, first by people buying NFTs from Bahamian accounts that could still transfer out money, and now by an outright hack or “hack”.)
I think the above is correct, on top of what Elizier has written one should also consider the legal issues around this mess.
I’m by no means a lawyer and so this is definitely not legal opinion, but it’s very likely that this will be mired in bankruptcy procedures for a very long time (Lehman Brothers is still unwinding for instance) and even if the money was returned to FTX ventures it isn’t certain that it would then be sent on to the ultimate people that you think are most deserving (i.e. the ones that had their accounts wiped out). It sounds as though the structure overall was a shit show and there were multiple entities in between, so where each account was held and how those liabilities sit in terms of priority of debt is probably very very unclear. There are still some chances that there will be some amount of money given back to the account holders as well.
In addition (and this might be even more controversial), I hope that the people that did get wiped out were using money that they could lose to some degree. Keep in mind that they were investing in crypto in offshore exchanges, and although FTX was thought to be a trustworthy partner, the entire space was known for scams and other mess, so hopefully there was an element of buyer beware for mos t of the account holders.
(Separately from all issues above, if you hold yourself responsible for returning money, you definitely should not be trying to return money now, while the FTX accounts are still being looted, first by people buying NFTs from Bahamian accounts that could still transfer out money, and now by an outright hack or “hack”.)