If this was purposefully orchestrated as the indictment suggests, it's very likely that 100% of every deposit made to FTX could be lost for good. Minus the real estate purchases of course.
Crypto transactions are irreversible.
All of the money that Alameda Research lost (which they borrowed from FTX investors) to bad bets could have easily been won by SBF et al on the other side of the trade... withdrawn to safety and put in a cold wallet for whenever they all see the light of day again.
The majority of the money that Alameda lost to bad bets was propping up shitcoins.
SBF could have created an account on FTX under a pseudonym and taken the short side of all of those shitcoin trades, knowing exactly how much financial support they had and how to break them.
Crypto transactions are irreversible.
All of the money that Alameda Research lost (which they borrowed from FTX investors) to bad bets could have easily been won by SBF et al on the other side of the trade... withdrawn to safety and put in a cold wallet for whenever they all see the light of day again.
The majority of the money that Alameda lost to bad bets was propping up shitcoins.
SBF could have created an account on FTX under a pseudonym and taken the short side of all of those shitcoin trades, knowing exactly how much financial support they had and how to break them.