Despite his hefty loss on FTX, Luthra remains bullish on bitcoin.

“I know it will eventually reach over $100,000, so to me it’s a great buy,” he said. The price of Bitcoin is currently $26,900, down from a high of $69,000 in December 2021.

“Success comes in the trenches, not when everyone is celebrating,” he said. 

FTX, once one of the largest cryptocurrency exchanges in the world, collapsed last year. FTX investigators discovered $8.9 billion dollars in customer assets missing shortly after.

Sam Bankman-Fried, founder and former CEO of FTX, faces seven criminal charges. He’s pleaded not guilty. Tuesday is jury selection day in Manhattan. In April 2022, an attorney for FTX said the exchange had recovered $7.3 billion in cash and liquid crypto assets. has not heard back from any of the customers interviewed. 

reported that FTX customer Jake Thacker lost hundreds of thousands of dollars after losing his tech job.

“I’m in a big hole right now,” Thacker said. At this point, I probably would give them different advice,” he said. Here’s what I learned, don’t make the same mistakes I did.” 

Bhagamshi Kannegundla first heard about FTX from a Super Bowl advertisement featuring comedian Larry David.