Odaily Planet Daily News: Tom Dunleavy, former senior research analyst at Messari, wrote on the X platform: "In October and November this year, FTX will provide creditors with $12 billion to $16 billion in cash. Basically, I think this is all buying power." Earlier, crypto analyst Ash Crypto wrote that people are worried about the MT.GOX crash and other negative factors, but some factors will drive the crypto market to new highs, such as FTX's plan to distribute more than $16 billion to its creditors. The schedule is: - August 16: FTX customer voting deadline; - October 7: Judge Dorsey makes a decision on the approval of the plan. If approved by the court, FTX will repay creditors within two months, which will occur between the fourth quarter of 2024 and the first quarter of 2025 according to the schedule, which perfectly matches other positive factors such as interest rate cuts, the implementation of accounting rules of the Financial Accounting Standards Board, and the results of the US election. Given that most of FTX’s customers are cryptocurrency enthusiasts, a massive amount of $16 billion will enter the cryptocurrency market and serve as the biggest catalyst for price increases.
