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FTX files consensus-based restructuring, awaiting bankruptcy court approval
The expected updated plan of reorganization from FTX Trading and its affiliates was filed today.
FTX exchange shared a customer and creditor compensation scheme. Though still awaiting bankruptcy court approval, the strategy might boost sector liquidity.
FTX submitted a consensus-based reorganization plan over two years (almost 17 months) after filing for Chapter 11 Bankruptcy in the District of Delaware.
Thanking all stakeholders and promising to “return 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” FTX CEO and CRO John J. Ray III said:
We, the independent Board of Directors of FTX, send our sincerest gratitude.Finally, I appreciate FTX consumers and creditors' patience during this process.
The concept has two main benefits for clients and creditors:
“98% of FTX creditors to receive 118% of allowed claims in cash within 60 days of effectiveness.
Other creditors to get 100% of allowable claims plus billions for investment time value.”
Government and commercial partners would settle conflicts without expensive and lengthy litigation under the concept.
The plan describes how the exchange would divide “virtually all of the assets associated with FTX at the time of its collapse in November 2022” to clients and creditors, pending Bankruptcy Court approval. No matter the asset price, they will be paid at 2022 crypto values.
Assets controlled by the Joint Official Liquidators of FTX Digital Markets, Ltd. (Bahamas), the Securities Commission of The Bahamas, FTX Australia, the US Department of Justice, and dozens of private parties that assisted in recovery.
Bloomberg reports that FTX has billions more than it needs to compensate clients for a November 2022 collapse. This allows the corporation to recover fully in bankruptcy.
Creditor payments would boost crypto prices by increasing market liquidity.
FTX coin FTT increased approximately 25% to $2.06 following this announcement.
#CryptoWatchMay2024 #altcoins #ftt $FTT #ftx
The expected updated plan of reorganization from FTX Trading and its affiliates was filed today.
FTX exchange shared a customer and creditor compensation scheme. Though still awaiting bankruptcy court approval, the strategy might boost sector liquidity.
FTX submitted a consensus-based reorganization plan over two years (almost 17 months) after filing for Chapter 11 Bankruptcy in the District of Delaware.
Thanking all stakeholders and promising to “return 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” FTX CEO and CRO John J. Ray III said:
We, the independent Board of Directors of FTX, send our sincerest gratitude.Finally, I appreciate FTX consumers and creditors' patience during this process.
The concept has two main benefits for clients and creditors:
“98% of FTX creditors to receive 118% of allowed claims in cash within 60 days of effectiveness.
Other creditors to get 100% of allowable claims plus billions for investment time value.”
Government and commercial partners would settle conflicts without expensive and lengthy litigation under the concept.
The plan describes how the exchange would divide “virtually all of the assets associated with FTX at the time of its collapse in November 2022” to clients and creditors, pending Bankruptcy Court approval. No matter the asset price, they will be paid at 2022 crypto values.
Assets controlled by the Joint Official Liquidators of FTX Digital Markets, Ltd. (Bahamas), the Securities Commission of The Bahamas, FTX Australia, the US Department of Justice, and dozens of private parties that assisted in recovery.
Bloomberg reports that FTX has billions more than it needs to compensate clients for a November 2022 collapse. This allows the corporation to recover fully in bankruptcy.
Creditor payments would boost crypto prices by increasing market liquidity.
FTX coin FTT increased approximately 25% to $2.06 following this announcement.
#CryptoWatchMay2024 #altcoins #ftt $FTT #ftx
PEPE, BONK, and FLOKI Show Diverse Trends Amidst Fluctuating Market !!
#Write2Earn #xrp #ETH #BTC #ftt
Pepe, Bonk, and Floki experience varied price movements, reflecting market sentiment and investor caution.
Pepe boasts significant trading volume and supply, despite a notable 5.44% decrease in 24 hours.
Market dynamics suggest potential opportunities but require cautious analysis and understanding of cryptocurrency fundamentals.
Pepe, Bonk, and Floki are experiencing notable price movements. Pepe, currently trading at $9.13e-7, has seen a 5.44% decrease in the last 24 hours, while Bonk, priced at $0.000010, saw a 5.89% dip. Meanwhile, Floki stands at $0.000029, with a minor 0.07% decrease.
Pepe's 24-hour trading volume sits at $91,119,835, showcasing substantial market activity. With a circulating supply of 420,689,899,999,995 PEPE coins, Pepe maintains a significant presence in the market. However, its downward trend signals a potential shift in investor sentiment.
Similarly, Bonk, with a trading volume of $90,622,191, has a live market cap of $661,836,941. Despite its sizeable trading volume, the 5.89% decrease in the last 24 hours reflects investor caution. Bonk's market performance suggests a period of adjustment and potential market consolidation.
In contrast, Floki, with a trading volume of $8,283,995 and a market cap of $274,702,455, displays relative stability compared to Pepe and Bonk. The marginal 0.07% decrease indicates a more resilient market position, albeit subject to fluctuation.
#Write2Earn #xrp #ETH #BTC #ftt
Pepe, Bonk, and Floki experience varied price movements, reflecting market sentiment and investor caution.
Pepe boasts significant trading volume and supply, despite a notable 5.44% decrease in 24 hours.
Market dynamics suggest potential opportunities but require cautious analysis and understanding of cryptocurrency fundamentals.
Pepe, Bonk, and Floki are experiencing notable price movements. Pepe, currently trading at $9.13e-7, has seen a 5.44% decrease in the last 24 hours, while Bonk, priced at $0.000010, saw a 5.89% dip. Meanwhile, Floki stands at $0.000029, with a minor 0.07% decrease.
Pepe's 24-hour trading volume sits at $91,119,835, showcasing substantial market activity. With a circulating supply of 420,689,899,999,995 PEPE coins, Pepe maintains a significant presence in the market. However, its downward trend signals a potential shift in investor sentiment.
Similarly, Bonk, with a trading volume of $90,622,191, has a live market cap of $661,836,941. Despite its sizeable trading volume, the 5.89% decrease in the last 24 hours reflects investor caution. Bonk's market performance suggests a period of adjustment and potential market consolidation.
In contrast, Floki, with a trading volume of $8,283,995 and a market cap of $274,702,455, displays relative stability compared to Pepe and Bonk. The marginal 0.07% decrease indicates a more resilient market position, albeit subject to fluctuation.
#ftt is holding above support and is ready to break $4 which is the next area of resistance. A break above $4 watch for a rally to $5.5 which is the next resistance.In case of a break form current prices watch for support at $3. On losing $3 watch for a deeper retrace into the area between $3.2-$1.96.
#BTC #BinanceWish #sol
#BTC #BinanceWish #sol
#PYTH/USDT.
Long 0.5080✔
hold🤑💪💪💪
Targets...
50%
100%
150%
lav 10x 20x
#PYTH #TrendingTopic #TradeNTell #ftt
Long 0.5080✔
hold🤑💪💪💪
Targets...
50%
100%
150%
lav 10x 20x
#PYTH #TrendingTopic #TradeNTell #ftt
This is a hard question😐
Is #ftt officially a #MemeCoinCraze ?
It is pretty popular among traders
It has no Value Future or solid Team
It has Funny posts and memes
Well not Funny HaHa
More Funny OMG WTH🤯
The last part is that it is Rising for no real reason. 🤔
MemeCoin $FTT 💆♂️
Is #ftt officially a #MemeCoinCraze ?
It is pretty popular among traders
It has no Value Future or solid Team
It has Funny posts and memes
Well not Funny HaHa
More Funny OMG WTH🤯
The last part is that it is Rising for no real reason. 🤔
MemeCoin $FTT 💆♂️
#FTX has provided details about the recovery of $7 billion worth of assets, including Bitcoin and property in the Bahamas.
-Approximately $3.4 billion worth of easily tradable cryptocurrencies categorized as "Category A."
-A portfolio of 38 real estate properties in the Bahamas, with a total value of $199 million.
-Roughly $2.6 billion in cash, along with brokerage assets and assets seized by the U.S. government.
#ftt #crypto2023 $SOL $BTC $ETH $FTT
-Approximately $3.4 billion worth of easily tradable cryptocurrencies categorized as "Category A."
-A portfolio of 38 real estate properties in the Bahamas, with a total value of $199 million.
-Roughly $2.6 billion in cash, along with brokerage assets and assets seized by the U.S. government.
#ftt #crypto2023 $SOL $BTC $ETH $FTT
FTX Estate Token Sparks SOL Surge Amid Pantera's Purchase Attempt. 🚀
In a strategic move, crypto hedge fund Pantera Capital is making waves in the blockchain space by raising $250 million for the Pantera Solana Fund. The fund's objective? To acquire up to $250 million worth of SOL tokens from the distressed FTX exchange estate.
As the news unfolded, Solana's native cryptocurrency, SOL, experienced an impressive 15% surge within a mere 24 hours. This sudden uptick in value underscores the market's positive response to Pantera Capital's bold initiative.
Investors now have a unique chance to snag SOL at a considerable discount. The offer stands at either 39% below the 30-day average price or a fixed rate of $59.95 per token. Adding to the allure, participants must commit to a vesting period of up to four years.
The FTX estate, currently holding 41.1 million SOL tokens, reflects a substantial increase in value, now exceeding $6 billion. This surge comes in the wake of FTX's collapse in November 2022, demonstrating SOL's resilience amidst market uncertainties.
This proposed deal doesn't just benefit Pantera Capital; it presents a win-win scenario. FTX liquidators stand to free up funds for creditors without exerting downward pressure on SOL's market price. This delicate balance ensures stability in SOL's value while meeting the financial needs of FTX stakeholders.
#solana #SOL #ftx #ftt #PANTERA
In a strategic move, crypto hedge fund Pantera Capital is making waves in the blockchain space by raising $250 million for the Pantera Solana Fund. The fund's objective? To acquire up to $250 million worth of SOL tokens from the distressed FTX exchange estate.
As the news unfolded, Solana's native cryptocurrency, SOL, experienced an impressive 15% surge within a mere 24 hours. This sudden uptick in value underscores the market's positive response to Pantera Capital's bold initiative.
Investors now have a unique chance to snag SOL at a considerable discount. The offer stands at either 39% below the 30-day average price or a fixed rate of $59.95 per token. Adding to the allure, participants must commit to a vesting period of up to four years.
The FTX estate, currently holding 41.1 million SOL tokens, reflects a substantial increase in value, now exceeding $6 billion. This surge comes in the wake of FTX's collapse in November 2022, demonstrating SOL's resilience amidst market uncertainties.
This proposed deal doesn't just benefit Pantera Capital; it presents a win-win scenario. FTX liquidators stand to free up funds for creditors without exerting downward pressure on SOL's market price. This delicate balance ensures stability in SOL's value while meeting the financial needs of FTX stakeholders.
#solana #SOL #ftx #ftt #PANTERA
NOW BUY THE DIP WHENEVER IT IS .
THIS LL BE THE BEST DIP TO BUY 👑☑️
Be ready people
🔥🔥🔥
#BTC #TrendingTopic #ftt #TradeNTell #Sei
THIS LL BE THE BEST DIP TO BUY 👑☑️
Be ready people
🔥🔥🔥
#BTC #TrendingTopic #ftt #TradeNTell #Sei
#BTC is pumping and has flipped resistance at $42.4k into support. On holding this support watch for a rally to $43.3k which is the next resistance.A break above $43.3k then 43.8k will be my next target.In case of a rejection at resistance watch for a pullback to support at $42.4k.
#ETH #ftt #Write2Earn
#ETH #ftt #Write2Earn
