Creditors of the bankrupt cryptocurrency exchange FTX will receive over 12 billion USD in payments over the next few months according to a court-approved payment plan. According to information released by FTX, the group has recovered between 14.70 billion and 16.50 billion USD, while creditor claims amount to 11.20 billion USD. Benjamin Celermajer, Co-Chief Investment Officer at Magnet Capital, stated that the anticipated FTX repayments "are essentially providing liquidity to known cryptocurrency traders. It is likely that we will see some funds flow back into the crypto market, potentially serving as a price catalyst for a market that is lacking liquidity." It is important to note that the repayments will not happen immediately; FTX must first establish a trust and hire a company to oversee the fund distribution process.

Odaily Planet Daily reported that creditors of the bankrupt cryptocurrency exchange FTX will receive over 12 billion USD in payments according to a court-approved payment plan in the coming months, increasing the possibility that some cash may be reinvested into digital assets. According to information released by FTX, the group has recovered between 14.70 billion and 16.50 billion USD, while creditor claims amount to 11.20 billion USD. Benjamin Celermajer, Co-Chief Investment Officer at Magnet Capital, stated that the anticipated FTX payments "are essentially providing liquidity to known cryptocurrency traders. It is likely that we will see some funds flowing back into the crypto market, serving as a potential price catalyst for a liquidity-strapped market." It is important to note that repayments will not happen immediately; FTX must first establish a trust and hire a company to oversee the fund distribution process. (Bloomberg)

Magnet Capital: Some of the FTX repayment funds may flow back into the crypto market or become potential price catalysts.