A new chapter was added to the FTX / BlockFI saga and this thing is really starting to get my goat.

Let's do a recap of what's going on and how it affects me first. To give you a little bit of context.

FTX went bankrupt, we all know that, and BlockFI immediately followed because it had ties with FTX.

Things you have to know: FTX was a scam by Bankman-Fried, while it seems BlockFI was just a badly run business.

Also, it's worth noting that John Ray and his team of overpaid legal genies are overlooking the FTX bankruptcy, not the BlockFI one.

However, both FTX and BlockFI bankruptcies are also being handled by Kroll, an American financial firm.

On a personal note, I lost about $4 on FTX and about $300 on BlockFI.

It sucks, especially the BlockFI part, but I've moved on. It's not life-changing money.

The problem is the bankruptcy keeps affecting me in a way that's making me lose and patience and time.

This is what happened:

• First, I was asked to fill up a million forms to claim funds, which is fair enough
• Second, I was asked to provide KYC for FTX, which was annoying
• Third, Kroll was hacked, and I began receiving dozens of phishing emails, which I promptly ignored

This is the first bit that really annoyed me. What is this, amateur hour?

But anyway, moving on.

• Fourth, BlockFI announced I was eligible for withdrawal. So I logged in and found that I could withdraw $0.69 cents in total out of the $300+ I got on the platform

What exactly is going on here? Is this is a joke? I'm sure there are legal reasons for that, or at least I hope so, but I expect them to handle the bankruptcy, determine what I can get and that's it. And I'm aware that I'll get cents on the dollar. But to make me withdraw funds in tranches starting with 69 cent is ridiculous. And by the way, each withdrawal has high processing fees so any withdrawal under $20 makes no sense.

• Fifth, I got two physical envelopes from FTX. Friendly reminder, I live in Europe, and the envelope came from the US. I personally think this is already a bit stupid in its own right. An envelope? For what?
• Sixth, each envelope contained a 50-page report on things I already knew. And these two 50-page reports are nearly identical. It's just things I'd already been told in writing via email. The amount I can claim, the value of the crypto amount at the time, etc.

What's that for? Is it supposed to inspire confidence? What am I supposed to do with those? I don't have a fireplace at my new apartment. Which is a pity, because that's the only use I can think of for those 100 pages of gibberish.

I can't say what I hope happens to Bankman-Fried, because I'd get censored, and I'm sorry for people who lost a significant amount of money on FTX or BlockFI.

Except for Kevin O'Leary and a YouTube influencer who lost millions in BlockFi. They both deserve it for shilling FTX. But I digress.

This bankruptcy saga is looking bad. It looks like the people who are supposed to be there to help us are either just as inept (Kroll) or just as greedy (Ray and his team).

In the end, we, as always, are paying the price.

And they keep wondering why hate banks and governments and legacy institutions in general.