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FTX to Distribute $16.44 Billion to Creditors Amid Surging Global Liquidity, $4 Billion Repayment in 4 Weeks
Sep 29, 2024, 09:27 AM
FTX is set to distribute $16.44 billion to its creditors starting next week. This distribution includes 18% of DOJ forfeiture funds, amounting to up to $230 million, which will be transferred to FTX equity holders. Crypto holders are expected to recover between 10% and 25% of their lost assets. Additionally, $4 billion will be paid back to FTX creditors over the next four weeks. This influx of liquidity is expected to significantly impact the cryptocurrency market, with predictions of increased demand for Bitcoin in Q4. Meanwhile, global liquidity is reportedly surging, which could further influence market dynamics.
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