Analysis: If FTX's $16 billion repayment to creditors is approved, it may drive the crypto market up
On July 8th, Ash Crypto, a cryptocurrency analyst, stated in a post that people are concerned about the crash of MT.GOX and other negative factors, but there are some factors that will drive the cryptocurrency market to new highs. For example, FTX plans to distribute over 16 billion US dollars to its creditors. The timeline is as follows:
1. August 16th: FTX customer voting deadline;
2. October 7th: Judge Dolores will make a decision on the plan.
If the court approves, FTX will repay its creditors within two months. According to the timeline, this will happen between the fourth quarter of 2024 and the first quarter of 2025. This matches perfectly with other positive factors, such as interest rate cuts, the implementation of accounting rules by the Financial Accounting Standards Board, and the results of the US election. Given that most FTX customers are cryptocurrency enthusiasts, the huge amount of 16 billion US dollars will enter the cryptocurrency market and become the biggest catalyst for price increases.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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