FTX flop? ⤵

Investor enthusiasm over a sudden influx of new capital to the crypto market following the approval of FTX's $16 billion creditor repayment plan could be premature.

Author

Stephen Graves
October 08, 2024

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📝 What you need to know

Customers of collapsed crypto exchange FTX will soon get their money back after a judge approved the firm’s $16 billion bankruptcy plan—but investor enthusiasm over a sudden influx of new capital to the crypto market could be premature.

Analysts reckon sweeping assumptions that creditors will plunge their refunded cash straight back into the market “requires at least some analysis of the claimant composition.” And with repayments not set to begin for 60 days after the plan's yet-to-be-determined "effective" date, any market impact is some way off.

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💬 Quote of the Day

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“Polymarket turned 'Money Electric' into a sporting event.”

Cullen Hoback, director of HBO documentary “Money Electric,” which purports to reveal the identity of Bitcoin creator Satoshi Nakamoto

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