Editor's PiCK
"FTX to Pay Creditors 6.8 Trillion Won on the 30th...Expected as a Variable for Market Liquidity"
Summary
- The FTX bankruptcy estate announced it will distribute stablecoins worth about 6.87 trillion won to creditors on the 30th.
- The upcoming repayment is expected to consist of major stablecoins such as Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).
- It was noted that the large scale of the second repayment could impact market liquidity and investor sentiment.
The FTX bankruptcy estate is set to distribute a total of $5 billion (about 6.87 trillion won) in stablecoins to creditors on the 30th.
According to the crypto-specialized media outlet Altcoin Buzz on the 29th, the bankrupt cryptocurrency exchange FTX is preparing for its second round of creditor repayments. This repayment is expected to consist of major stablecoins such as Tether (USDT), USD Coin (USDC), and Binance USD (BUSD). Court documents estimate that around $5 billion worth of digital assets will be returned to eligible creditors.
While the first repayment earlier this year targeted a small number of claimants, this second round will be much larger in scale, leading to speculation that it could influence overall market investment sentiment.
The outlet added, "Some recipients are likely to reinvest their payouts into Bitcoin (BTC), Ethereum (ETH), and altcoins, while not a few may choose to cash out their entire amounts."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
