Bankruptcies and money losses are not uncommon in the crypto world. The most recent one was the collapse of the FTX exchange, which left a large amount of user funds trapped. Among those users is David Schwartz, chief technology officer (CTO) of blockchain payments company Ripple Labs Inc.
#ripplechief technology officer david #schwartz show stranded funds #FTX exchange https://t.co/uIUxh81sUU
— Kyptos (@azcoinnews) March 31, 2023
in a tweet Schwartz recently revealed that he was stuck with $2,500 on FTX after thoroughly checking his balance. Schwartz explained that this is what happens when you are involved in cryptocurrency for an extended period of time. He even recounted a similar experience when he found out he forgot 100 BTC (about $25,000 at the time). However, the number currently stuck is much lower.
As Bitcoinist reported, FTX Europe, the European subsidiary of the FTX exchange, has launched a new website to allow its former clients to withdraw their remaining funds. new domain name, FTXEurope.euApproved by the Cyprus Securities and Exchange Commission (CySE) and does not offer any products or services other than balance withdrawals.
This is good news for cash-strapped users on FTX, including David Schwartz. Now they have a chance to get their money back and skip the case. However, it is a clear reminder of the risks of investing in cryptocurrencies and the importance of being vigilant about your investments.
- OKX Freezes $157M in Assets Belonging to FTX and Alameda Research
- The latest development of FTX debt repayment plan
according to Kyptos