FTX’s 2-Year Repayment Delay a ‘Win,’ Says Trader Who Predicted Collapse

“I thought it would take longer,” Bhaidani told Cointelegraph’s Turner Wright at ETHDenver on Feb. 28. “You’re working with multiple governments, different levels of enforcement, and compliance. Given the Bahamas’ involvement, plus U.S. regulations and funds from American investors, I expected a longer process.”

FTX’s 2-year repayment delay is a ‘win,’ claims trader who predicted FTX’s collapse" changed to "Even though it's taken about two years, a trader who correctly predicted FTX's downfall thinks the fact that creditors are now getting their money back is actually a 'win.

— 👾𝗤𝗧 Jeffry (@jeffanayam) March 1, 2025

Despite being one of the biggest financial frauds in U.S. history, Bhaidani believes the two-year repayment timeframe is a positive outcome for creditors.

FTX’s Repayment Plan: What Creditors Should Expect

FTX began its first round of creditor reimbursements on Feb. 18, 2025, with a second round scheduled for May 30. Those eligible must verify their claims by April 11 to receive compensation.

According to the FTX recovery plan:

• 98% of creditors are expected to receive at least 118% of their claim value in cash.

• The bankruptcy estate has prioritized liquidity recovery to maximize payouts.

• The repayment process aims to restore customer trust in crypto exchanges post-FTX.

However, Bhaidani notes that secondary market traders who bought claims from original creditors may see mixed results.

“If you bought ETH, you didn’t do as well. But if you bought SOL? You did really, really well,” he explained, highlighting how different assets performed over time.

Could Sam Bankman-Fried Ever Be Pardoned?

FTX’s downfall was partly triggered by exposure to the $60 billion Terra Luna collapse and internal instability, including the departure of FTX US President Brett Harrison before a major payout. Bhaidani flagged these as early warning signs a month before the company unraveled.

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Just when you thought FTX was a distant memory, the plot thickens. A trader who predicted the collapse views the 2-year repayment delay as a positive outcome, citing jurisdictional complexities.

Market impact is mildly positive, but let's be real,…

— Ducky (@duckunfiltered) March 1, 2025

“Something had to be wrong in the kitchen over there,” he recalled.

As for former FTX CEO Sam Bankman-Fried, who is currently serving a 25-year sentence, Bhaidani sees a 2% to 5% chance of a pardon. However, he believes a presidential pardon under Trump is even less likely.

With repayments underway, FTX’s collapse serves as a cautionary tale, reminding investors of the risks of centralized exchanges and the importance of due diligence in the crypto space.