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What’s next for the French victims of the FTX cryptocurrency exchange crash?

The collapse of the FTX cryptocurrency change had worldwide repercussions, with greater than 1,000,000 prospects shedding cash in a single day. About 50,000 to 60,000 persons are affected in France. Will victims proceed to put money into cryptocurrency as they search authorized options to get their a reimbursement?

Like tons of of 1000’s of FTX prospects all over the world, Hassan, who lives in France, suffered a shock in early November.

Sam Bankman-Fried, founder and CEO of FTX, tweeted “I am crying” on November 8 after attempting to reassure everybody that the US and Bahamas-based firm is doing properly.

The following day, because the inventory market started to shut, Hassan wrote: “All the pieces I invested in a 12 months, I misplaced in sooner or later. That is horrible.”

The life financial savings are gone

FTX was one of many largest digital forex exchanges that allowed customers to commerce. cryptocurrencieslike Bitcoin for conventional cash or different digital currencies.

When FTX collapsed, no less than a billion {dollars} in consumer funds had been frozen and the corporate filed for chapter on November 11.

Hassan misplaced 26,000 euros – all his financial savings – in a single day.

“It is a very dangerous reminiscence,” he informed RFI.

In December Bankman-Fried was arrested He was within the Bahamas and extradited to the US, the place he was accused of fraud.

Lawyer Ronan Journoud counsels among the French victims concerned. A help group on Telegram. He estimates there are round 55,000 French prospects who misplaced cash with FTX.

Read more about RFI English

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