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You Won’t Believe Who’s Making Bank Off Your Dead Friend’s Ruin

Crypto NewsInstitutional InvestorsRegulation/Negotiation Kevin Nelson October 11, 2024

A illustration of a person (Nikolas Gierczyk) holding onto a rope with one end tied to an empty wallet and the other to a large pile of money, while another figure (representing Olympus Peak) is seen walking away from him with their hands in pockets. The background features a cityscape with FTX's logo crumbling down.

It seems even dead men can still make money off their deceased friends…literally! In a bizarre turn of events, an FTX user is suing hedge fund Olympus Peak for allegedly profiting from the platform’s bankruptcy by not honoring his right to further recovery. Nikolas Gierczyk sold his $1.59 million claim against FTX at a 42% discount and received a whopping $930,000 payout – but now he claims Olympus Peak might rake in over $2 MILLION for that same claim! Talk about the circle of life…or rather death.

Source: cointelegraph

FTX user sues hedge fund over bankruptcy profits
https://cointelegraph.com/news/ftx-customer-sues-hedge-fund-over-claims
An FTX customer is suing hedge fund Olympus Peak, alleging the firm owes him additional recovery after he sold his claims in the collapsed trading platform. Nikolas Gierczyk, an FTX user from California, reportedly sued the hedge fund Olympus Peak, claiming the company could gain more than $1 million from their deal. Gierczyk alleges the hedge fund failed to honor a right to further recovery he had negotiated in their […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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