FTX Creditors Could Get Rekt by the IRS

The IRS Wants $44B From Bankrupt FTX. How Is That Possible? – Ep. 491
News emerged this week that the U.S. Internal Revenue Service (IRS) placed $44 billion in claims on the FTX bankruptcy estate. Now creditors of the defunct crypto exchange are worried that the taxman is going to gobble up funds that would otherwise be used to make users partially whole. Wassielawyer, a lawyer specializing in restructuring and insolvency, joins the show to explain what’s going on, how that huge number is even possible, and why the so-called “trust argument” is not going to be the silver bullet that some FTX customers are dreaming of.

🔥 EPISODE LINK 🔥
CHECK OUT THE EPISODE LINKS AND DETAILS HERE
👉 https://unchainedcrypto.com/podcast/the-irs-wants-44b-from-bankrupt-ftx-how-is-that-possible/ 👈

Show highlights:
🔹 whether the numbers of the IRS claim are even correct
🔹 how these claims may affect all customers and unsecured creditors of FTX
🔹 whether FTX CEO John Ray will fight the claims
🔹 what the trust argument is and how it could potentially save (or not) FTX’s creditors
🔹 in what currency the investments made by creditors would be returned
🔹 why the Three Arrows Capital case differs from FTX and Mt. Gox
🔹 why what FTX allegedly did is similar, but different, from what Celsius or Voyager did

Thank you to our sponsors!
🔹 Crypto.com
🔹 Railgun DAO
🔹 Stader Labs

Guest
🔹 Wassielawyer, a lawyer specializing in restructuring and insolvency

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Time Stamps:
00:00 Introduction
01:19 IRS Claims
04:40 Effects on the proceedings
11:47 Trust argument
26:18 Weekly Recap
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#bitcoin #ethereum #crypto #cryptocurrencies
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