FTX Customers Who Lost Millions Maintain Faith In Crypto Despite Major Losses: 'Fundamental Reason Why We Buy Bitcoin Has Not Changed'

Despite losing fortunes in the fall of FTX, a number of customers are showing unwavering faith in cryptocurrency.

In a recently released documentary, many FTX customers remain optimistic about the future of cryptocurrency, according to a report by CNBC.

FTX, once a leading global cryptocurrency exchange, faced a rapid downfall and bankruptcy last year, resulting in a shocking $8.9 billion missing from customer assets. The founder and former CEO of FTX, Sam Bankman-Fried, currently faces seven criminal charges of fraud and campaign finance violations.

Evan Luthra, who lost $2 million in the FTX collapse, said, “The fundamental reason why we buy Bitcoin BTC/USD, why we use Bitcoin has not changed.”

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Another customer, Bhagamshi Kannegundla, who lost around 60% of his crypto portfolio in FTX’s collapse, sold his bankruptcy claim for a fraction of its worth to reinvest in crypto.

Kannegundla stated, “I wanted to get the cash from the bankruptcy claim, primarily to invest in crypto again.”

Despite the turmoil, former FTX U.S. business president Brett Harrison is also doubling down on cryptocurrencies, raising money to start a new company in the space called Architect Financial Technologies.

The ongoing faith in the industry amongst these investors comes under the shadow of the collapse of FTX, a stark reminder of the high-risk nature of the crypto market.

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Photo by Igor Faun on Shutterstock