• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

FTX: Repayments to Creditors May Start in October

user avatar

by Giorgi Kostiuk

2 years ago


There are unconfirmed reports that the bankrupt crypto exchange FTX will start paying its creditors in October.

Expected FTX Payments

From widespread expectations, the repayment plan could be approved when FTX’s proposed restructuring program gets the nod from the court on October 7. Some FTX creditors expect the exchange’s customers to get between 10% and 25% of their crypto back.

Creditors' Opinions

An acclaimed activist, Sunil Kavuri, noted his expectations after spotting a recent move by FTX, where the defunct crypto exchange transferred 18% of the DOJ forfeiture funds, amounting to about $230 million, to equity holders. According to Kavuri, this might indicate future repayments to customers.

The transfer of 18% of DOJ funds shows FTX's readiness to start repayments.Sunil Kavuri

Uncertainties and Next Steps

Although Kavuri and other creditors are making scientific guesses as to when and how FTX would execute the proposed settlement of customers, none of the creditors are certain about the failed exchange’s programs. Some affected parties think the situation will remain unclear until after the court’s decision on October 7.

The upcoming court session on October 7 is expected to shed light on the next steps and conditions for repayments to FTX's creditors.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Kraken to Introduce CFTC-Regulated Perpetual Futures for US Traders.

chest

Kraken is set to introduce CFTC-regulated perpetual futures for eligible US professional traders through its acquisition of Bitnomial.

user avatarMiguel Rodriguez

Kraken Expands Crypto Trading with Pre-IPO Futures for AI Companies

chest

Kraken has launched new perpetual futures contracts for private AI companies OpenAI and Anthropic, allowing traders to gain synthetic exposure before they go public.

user avatarLuis Flores

Ethereum Faces Potential Third Consecutive Negative Quarter

chest

Ethereum is on track for a third consecutive negative quarter, raising concerns among traders despite strong staking signals.

user avatarArif Mukhtar

Glassnode Tracks Seller Exhaustion Constant for Market Insights

chest

Glassnode tracks the Seller Exhaustion Constant to analyze market trends and provide insights into seller behavior and market dynamics.

user avatarMaria Gutierrez

Gate Expands USDT Utility with Access to Hong Kong Stocks

chest

Gate has launched a new feature allowing users to access Hong Kong-listed stocks through USDT-powered accounts.

user avatarDavid Robinson

Uniswap's UNI Token Set for Massive Growth, Predicts Standard Chartered

chest

Standard Chartered's Geoff Kendrick predicts significant growth for Uniswap's native token, UNI, forecasting a price target of $100 by 2030 as Wall Street transitions to on-chain investments.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.