FTX creditor representative Sunil suggested that compensated users avoid participating in Meme coin speculation on the Solana chain

Odaily Planet Daily News Sunil Kavuri, a representative of FTX creditors, said that the completion of FTX creditor compensation of less than $50,000 may bring a sense of closure to some former customers, and the process has just begun. Kavuri said that FTX estate still holds more than $16 billion in assets, which will be used later to repay creditors with claims worth more than $50,000. Kavuri is one of them, and he lost $2 million when the exchange collapsed. Kavuri warned customers who received compensation to avoid the Meme coin trenches and carefully keep their wealth, pointing out that Meme coins such as TRUMP and LIBRA have caused some traders to lose a lot of money in recent weeks. Kavuri said when recalling his advice to FTX creditors: "You missed the bull market, but don't gamble away your money. I have posted a lot of posts about carefully handling FTX compensation." The recent distribution was assisted by cryptocurrency exchange Kraken and custody service provider BitGo. However, in the process, many people sold their claims to investment institutions that specialize in purchasing bankruptcy claims. Nearly half of the claims that were to be repaid on Tuesday have been acquired by investment institutions. "Some people sold the tokens because of emotional distress," Kavuri said, adding that some buyers of FTX claims bought the tokens at prices as low as 10 cents per dollar. He said: "I have heard of at least three people committing suicide, and many others have been hospitalized for panic attacks or are taking antidepressants." (Decrypt)