The repayment plan proposed by the bankrupt cryptocurrency exchange FTX's restructuring team was just approved by the court on the 7th. Today, FTX/Alameda's SOL pledge address was found to have redeemed 178,631 SOL (approximately US$28 million), which may be The subsequent transfer of SOL to CEX was suspected to be in preparation for repayment. (Previous summary: The judge approved: FTX started to repay US$16 billion (creditors received 18% more interest), Bitcoin returned to the mad cow countdown?) (Background supplement: FTX repayment lazy bag: 98% of creditors received 118% Cash, repayment time, how much money will return to the market?) The repayment plan proposed by the bankrupt cryptocurrency exchange FTX’s restructuring team was approved at the confirmation hearing of the U.S. Bankruptcy Court in Delaware on the 7th. The amount of future claims Small creditors with claims under $50,000 can expect to start receiving compensation before the end of 2024, while creditors with larger claims may not receive compensation until the first or second quarter of 2025. Details such as the effective date of the subsequent payment plan and the expected start time of distribution will be announced separately by the FTX restructuring team. The previous estimate was that it would take two months. FTX starts to crash? However, according to on-chain analyst Ember's monitoring, FTX/Alameda's SOL pledge address H4y...gFZ redeemed 178,631 SOL (approximately 28 million US dollars) this morning ($23.75M), and may subsequently transfer SOL to CEX for selling. There are currently 7.09 million SOL (approximately US$1.107 billion) pledged at this address. Based on previous transfer records, these redeemed SOL will be distributed to multiple addresses, most of which will subsequently flow into Coinbase or Binance. Source: solscan In fact, the SOL transfers at this address are currently relatively regular. They will be redeemed on the 12th-15th of each month, and about 170,000 SOLs will be transferred out. Lookonchain has previously released data showing that between July and July this year In September, FTX/Alameda had uns pledged 530,000 SOL and transferred them to multiple addresses, with an average of 176,700 SOL unstaking per month. It is speculated that FTX's move is to prepare for repayment, which may put SOL under selling pressure. However, some analysts have previously believed that FTX/Alameda's actions will not have a major impact on the price of SOL, because compared with the total wallet holdings , the scale of unstaking is relatively small, and the sell-off of FTX is expected to be carried out through over-the-counter transactions (OTC), thus reducing the possibility of violent market fluctuations. As FTX redeemed 178,631 SOL today, the SOL price took no hit, rising 2% to $154.80 in the last 24 hours. SOL Price Trend. Source: CoinGecko What is the repayment plan for FTX? According to previous reports from Dongzhong, the core content of FTX’s bankruptcy plan is to use its recovered funds to give priority to compensation to users, and then pay potential competing claims raised by government regulators. According to the type of creditor claims, the vast majority of customers ( Creditors holding amounts under $50,000 can receive about 118% of their losses, and some creditors can receive 142% of their losses. FTX estimates it will have as much as $14.5 billion to $16.3 billion in cash available for distribution once the sale of all assets is complete, according to a reorganization plan FTX filed with the Delaware Bankruptcy Court in May. However, it should be noted that future loss compensation is calculated based on the U.S. dollar price of cryptocurrency on the day FTX exercises Chapter 11 of the Bankruptcy Code on November 11, 2022, so unless the assets placed by users on FTX are stable coins, in fact Still a big loss. Related reports FTX repayment finalized tonight! The court hearing is attracting global attention and will decide whether to compensate FTX shareholders before the end of the year and "get priority of US$230 million." Creditors denounced the injustice. Liquidation team: Both parties are victims. FTX rumored to start repayment on 9/30. "FTT skyrocketed by 80%." Fact check : The plan has not been approved by the court and will be launched as soon as the end of the year. "FTX is preparing to sell off the market to pay back the money? It has redeemed 28 million magnesium SOL today and may transfer it to CEX for selling." This article was first published on Dong District BlockTempo (Dong District Dongzhi-Most The most influential blockchain news media).