BlockBeats news, on September 29, according to Forbes, FTX will return US$11-16 billion to creditors in the fourth quarter of 2024, which may provide a boost to the cryptocurrency market (especially Bitcoin, SOL and Solana network cryptocurrencies) Provide significant benefits. While the exact date is unclear, FTX proposed that the distribution would occur within 60 days of the reorganization plan taking effect.
Currently, the next hearing on the restructuring plan is scheduled for October 7. If approved, FTX would have 60 days to distribute assets to creditors, meaning the returned cash would reach previous cryptocurrency buyers sometime before December 7. A large portion of this cash will likely remain in the cryptocurrency ecosystem, with creditors reinvesting the funds in their favorite tokens or ETFs.
Still, there are some risks that could derail this positive event. First, court delays may further extend the funds return date. And currently some FTX creditors are not satisfied with the settlement plan (which only provides for the return of cash).
BlockBeats Note: There are currently FOMO comments in the market that “FTX will return 16 billion in funds starting next week.”
