• 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

Altcoin Market Shows Signs of Structural Shift

chest

The altcoin market is experiencing a significant increase in trading volume, indicating a potential structural shift in market participation.

user avatarMaria Fernandez

Crypto Market Stabilizes Near $200 Billion

chest

The total crypto market cap stabilizes near $200 billion after a period of weakness, indicating a potential shift in market sentiment.

user avatarGustavo Mendoza

Strategys Phong Le Emphasizes the Importance of Software in Bitcoin Strategy

chest

Phong Le emphasizes the interconnectedness of Strategy's Bitcoin identity and its software business, arguing that both reinforce each other.

user avatarRajesh Kumar

Senate Banking Committee to Markup CLARITY Act on May 14

chest

The Senate Banking Committee is set to hold a markup of the long-awaited CLARITY Act on May 14, following significant delays and disputes.

user avatarMiguel Rodriguez

Ethereum Leverage Ratio Sees Significant Decline on Binance

chest

The Estimated Leverage Ratio for Ethereum on Binance has seen a sharp decline, now sitting at 0.57, indicating a decrease in speculative trading activity.

user avatarLuis Flores

Bitcoin Achieves Weekly Close Above 80,000, Strengthening Bullish Sentiment

chest

Bitcoin has successfully closed a week above 80,000, marking a significant milestone for bulls in the cryptocurrency market.

user avatarArif Mukhtar

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.