DiscoverThe Blockspace PodcastWhat we know about the FTX insolvency 3 years later
What we know about the FTX insolvency 3 years later

What we know about the FTX insolvency 3 years later

Update: 2025-10-22
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Description

Investigative reporters Jonathan & Sophie dive much deeper into what happened *after* SBF was ousted. Hundreds of thousands of individual customers became creditors, getting paid in dollar values from the bankruptcy filing date when the market bottomed out (Meanwhile, nearly $1 billion in fees went to the bankruptcy process expenses) When you're waiting for money and told you won't get it back while watching massive fee statements pile up, something feels really wrong.


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Notes:


• FTX had hundreds of thousands of individual creditors


• Creditors repaid in bankruptcy filing at market low


• Nearly $1 billion total in bankruptcy fees


• Sullivan and Cromwell among multiple firms paid


Timestamps:


00:00 Start


02:56 Beginning the investigation


05:37 Interviewing SBF


08:21 Beginning bankruptcy


10:23 The bankruptcy claim experience


13:30 Who handled the bankruptcy?


16:08 What were the FTX assets?


17:35 A complicated portfolio


20:07 Bankruptcy firm double dipping?


22:50 Customer questions


27:56 Are these fees normal?


33:19 Reimbursements to date


35:33 BTC go up


36:58 What's next?


39:35 Next step for journalists?


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What we know about the FTX insolvency 3 years later

What we know about the FTX insolvency 3 years later

Blockspace Media