A recent analysis suggests that FTX creditors may receive significantly less than initially anticipated when payouts are adjusted to reflect the current market valuations of cryptocurrencies. Sunil, a prominent FTX creditor representative, estimates recovery rates ranging from 9% to 46%, depending on the asset type. This estimate highlights a crucial discrepancy between the exchange’s plan to repay claims in fiat currency and the actual value changes in the cryptocurrency market since FTX’s collapse in 2022. Sunil emphasizes that the 143% fiat repayment, while appearing favorable at first glance, does not account for the substantial appreciation of Bitcoin, Ethereum, and Solana in value.