Sunil Kavuri, who represents the creditors of the bankrupt FTX exchange, advised traders who received compensation to avoid meme tokens.
On February 18, clients of the trading platform, those who submitted applications for a refund of less than $50,000, they transferred $800 million in fiat currency. Thus, the platform users were not only compensated for their losses in full, but also paid an additional 20,5% of the debt amount.
You missed the bull run, but don’t risk your money, stay away from memecoins and keep your savings in a safe place. I have written many times about being careful with payments received from FTX, — said Kavuri.
Sunil Kavouri
Sunil is right to warn people against buying meme tokens. Experience shows that trading such cryptocurrencies is rarely successful. For example, only 100% of memecoin traders issued on the Pump.fun platform earn more than $10 in profit. About 60% of traders suffer losses, and the remaining 30% break even or, at best, make a profit of $100.
Kavuri also said that compensation is planned to be paid to FTX creditors who are owed $30 or more on May 2025, 50,000. At the same time, those who were not repaid funds in the amount of about $400 million on February 18 will also receive money. It turns out that the saga of the collapse of the FTX exchange, which went bankrupt in November 2022, is nearing its end.