Bitcoin News Today: Why FTX Creditors Were Left Behind as Crypto Skyrocketed

The repayment of FTX creditors at 2022 prices has left many investors missing out on significant gains from cryptocurrencies like Solana (SOL) and Bitcoin (BTC), as the crypto market has surged in the years following the exchange's collapse. Brett Harrison, of FTX US, has since pivoted to launching AX, a new perpetual futures trading platform, signaling a broader shift in the crypto derivatives landscape, according to a Yahoo Finance report.

AX, developed by Architect Financial Technologies and launched on Oct. 29, offers perpetual contracts on a range of non-crypto assets, including foreign currencies, equities, and commodities. The platform, based in Bermuda and regulated under the country's digital asset framework, aims to combine the efficiency of crypto perps with traditional asset classes, the Yahoo Finance piece notes. Harrison, who resigned from FTX US in September 2022 amid internal disputes but denied involvement in the scandal, emphasized AX's focus on institutional-grade tools such as portfolio margining and support for USD and stablecoin collateral. The platform's technology, built on Connamara Technologies' infrastructure, underscores a growing trend of hybrid models in derivatives trading.

The FTX collapse in November 2022, triggered by a liquidity crisis linked to Alameda Research's misused customer funds, left creditors with a complex repayment structure. While some liquidation proceeds were distributed in 2023, the value of assets like SOL and BTC has since outpaced the 2022 prices at which many creditors were repaid. For instance, Bitcoin, which traded near $16,000 in early 2023, has since rallied to over $60,000 in early 2025, while Solana has seen even sharper gains. This disparity has drawn criticism from some investors, who argue that the repayment terms failed to account for the crypto market's subsequent boom, the Yahoo Finance report added.

Harrison's AX is part of a broader resurgence in perpetual futures platforms, with competitors like Hyperliquid and Aster also gaining traction. Architect's Series A funding, led by Coinbase Ventures and Circle Ventures, highlights institutional confidence in the sector, per the same Yahoo Finance coverage. However, the platform faces challenges in attracting individual traders, as it currently operates with a waitlist and prioritizes institutional clients.

Meanwhile, the broader economic landscape remains turbulent. The global shipping and logistics sector, already reeling from the "Great Freight Recession," saw a spike in Chapter 11 filings in late 2025, with 21 trucking companies collapsing in the third quarter alone, according to a Yahoo Finance article. J.B. Hunt Transport Inc., one of the industry's largest players, closed a distribution facility in Georgia, citing declining long-haul demand and a shift toward short-haul deliveries, the article reports. Analysts like David Roush of KSM Transport Advisors warn that the freight downturn is deepening, with no immediate signs of recovery.