Analysis: FTXs plan to repay $16 billion to creditors could push markets to new highs

Odaily2024/07/08 03:55

By:Odaily

Odaily News Crypto analyst Ash Crypto wrote that people are worried about the MT.GOX crash and other negative factors, but some factors will drive the crypto market to new highs, such as FTXs plan to distribute more than $16 billion to its creditors, with the schedule being: 1. August 16: FTX customer voting deadline; 2. October 7: Judge Dorsey makes a decision on the approval of the plan. If approved by the court, FTX will repay creditors within two months, which will occur between the fourth quarter of 2024 and the first quarter of 2025 according to the schedule, which perfectly matches other positive factors such as interest rate cuts, the implementation of Financial Accounting Standards Board accounting rules, and the results of the US election. Given that most FTX customers are cryptocurrency enthusiasts, a huge amount of $16 billion will enter the cryptocurrency market and become the biggest catalyst for price increases.

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