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Confused. Irresponsible.

I do know lots of people are going to bash me for being irresponsible and never being conscious of what’s occurring, which is appropriate, I’m. Mainly I purchased a number of thousand {dollars} value of Ethereum and possibly $500 of Bitcoin originally of 2021, by way of FTX. My thought was to only let sit till I’m about 60 years previous (I’m 24 now). I had a belief pockets account, however for some cause I don’t suppose I ever transferred my funds to it, I simply left them in FTX. Now with this fallout, I can’t log in to my FTX account and I’m assuming I’m simply shit out of luck and misplaced all my cash? Is there anyway I can recuperate my funds? I’ve my API key however I don’t even perceive how all this works. Thanks upfront for anybody who might assist clarify what’s occurring with the FTX stuff and what it means for the typical retail investor like myself who had cash in FTX.

22 thoughts on “Confused. Irresponsible.”

  1. If it is on FTX you likely have lost it and your only chance is if they scrape through this mess, which they almost certainly won’t. Sorry OP.

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  2. I can assure you that the probability for any of the current exchanges to still exist in 33 years is almost 0%. That plan would have never worked out.

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  3. Money is gone, but you can now buy 4x BTC and ETH for the same amount of money and transfer that into a cold storage.

    Your plan still works. Just need a redo.

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  4. >My idea was to just let sit until I’m about 60 years old (I’m 24 now)

    > I had a trust wallet account, but for some reason I don’t think I ever transferred my funds to it, I just left them in FTX

    kek

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  5. I’m sorry that this happened to you OP, have you tried contacting their customer service? Or emailed them?

    At least try to recover a portion of them. Rooting for you!

    Reply
  6. Your going to have to wait until FTX goes through the bankruptcy process and join the long list of investors they owe. Unfortunately accredited investors get first dibs, you may end up getting something back but I’d doubt it’s the full amount.

    Sorry for your loss OP

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  7. The general consensus is that if you’re going to sit on something for so long just put it in cold storage

    Unfortunately all we know is that FTX is going through bankruptcy procedures, and that may be the only way you might be getting anything back (though it will take a while).

    Hope things work out for you OP

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  8. Sorry to be the bearer of bad news, but your money’s gone. I do hope that the next time when you’re thinking of long term investment, you’ll keep them in cold wallet.

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  9. FTX has filed for bankruptcy. You will now be a claimant in the bankruptcy proceedings as a customer of FTX with a non-zero balance when they filed for bankruptcy.

    The bankruptcy proceedings will seek to distribute FTX’s remaining assets to those it owes money to. This will probably take years to resolve and at best people will get back some % of their original balance, at worst nothing.

    I’d suggest watching the news for FTX bankruptcy updates over the next few years to see whether you’re likely to get anything back.

    This sucks, sorry it has happened to you :/

    Reply
  10. Letting your crypto sit until you are 60 years old is good

    But take self custody and keep it in Cold Storage.

    21 million btc and 120 odd million eth will be around still and we can only speculate how high it be then.

    In 30 years pretty sure it’s a good retirement bag

    Reply
  11. >I honestly don’t remember how much $$ I had invested in there. Is there anyway for me to see how much I had in my FTX wallet? Thanks

    Search your bank or card statements to find all out going transactions to FTX and then subtract any incoming txs from FTX. Do this yourself, don’t trust data from FTX

    Reply

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