CoinDesk Podcast Network BITCOIN SEASON 2: What we know about the FTX insolvency 3 years later
Oct 22, 2025
Jonathan Jones, a dedicated reporter and producer who investigated the FTX bankruptcy, shares insights into the convoluted aftermath of FTX’s collapse. He discusses the staggering nearly $1 billion in legal fees that have hampered customer reimbursements. Hundreds of thousands of individual creditors, paid in depreciated dollar values, feel the strain as they await their funds. The scrutiny surrounding bankruptcy management and potential conflicts of interest raises questions about the system's transparency, leaving many wondering what happens next.
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Access Via A Family Dinner
- Jonathan got access to Sam Bankman-Fried through a relative who dined with SBF's parents.
- That connection opened months of interviews and insights into the family's perspective on the collapse.
Claims Dollarized At Market Low
- FTX customers were repaid in dollar values pegged to the bankruptcy filing date, not in the original crypto assets.
- That date was the market low, so many customers missed out on the subsequent rebound in asset prices.
Bankruptcy As Court-Mediated Negotiation
- Bankruptcy functions as a court-mediated negotiation balancing creditor recovery and asset preservation.
- Public hearings and records make bankruptcy uniquely transparent compared with other corporate processes.