CandleFocus Here’s why FTX repayment won’t happen tomorrow
2024-09-30
Author: Content Editor
The court approval of FTX's wind-down plan, necessary for reimbursements to customers, has been delayed until October 7. FTX, which filed for bankruptcy protection in November 2022, disclosed owing $11.2 billion to customers and estimated distributing between $14.5 billion and $16.3 billion to repay creditors and customers. However, social media rumors falsely suggested repayments would be made by September 30. Analysts predict that the $16 billion payout could potentially re-enter the crypto market as reinvestments, providing liquidity for the ecosystem and influencing market activity.
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