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Chiliz Allocates 38 Million CHZ To Rescue Traders Who Lost Funds in FTX Collapse

Cointime Official

Chiliz announced its decision to allocate 38 million CHZ to a public address that will help compensate up to $10,000 per FTX user who lost funds. The project has decided to engage with the liquidator to facilitate this over the next few weeks.

SAFU: At @chiliz we decided to allocate 38M $CHZ to a public address (https://etherscan.io/token/0x3506424f91fd33084466f402d5d97f05f8e3b4af?a=0x8e2a78d6b7a7b6ad6cdb21ad76a00e6f59447d83) to compensate up to $10,000 per @FTX_Official user that owned $CHZ on that platform last Friday. We will engage with the liquidator in order to facilitate this coverage over next weeks;

The 38M $CHZ is the amount on-chain that was on FTX exchange in their wallet up to last week. This initiative will be only for individual users and not for institutions.This is still subject to complete legal review and approval from liquidator to provide us the list of users.

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