【Crypto Story】FTX bankruptcy plan sparks heated discussion, market reaction may need to wait

BlockBeats news, on October 8, Presto Labs released a new report, revealing that retail investors' enthusiasm for FTX's court-approved bankruptcy plan may be premature. In the report, analysts questioned whether the $16 billion in cash paid to creditors will flow back into the cryptocurrency market.

According to FTX's estimates, the total value of the property available for distribution will be between $14.7 billion and $16.5 billion. This amount includes assets controlled by various entities. Although this number looks considerable, Presto Labs reminds everyone not to be too optimistic too early.

Presto Labs said: "It is too early to assume that creditors will directly put this cash into the market. Making such a general assumption requires at least some analysis of the composition of creditors, and as far as we know, no one has publicly done this yet."

The research company noted that repayments will begin within 60 days of the "effective" date of the plan, but the specific date has not yet been determined. This timetable suggests that any potential market impact will not happen soon. Therefore, market participants may need to wait patiently and observe the actual development.

This report undoubtedly poured cold water on investors who expect the market to rebound quickly. However, this does not mean that the market outlook is bleak. On the contrary, it may be a reminder that investors need to look at market trends more rationally and cautiously.

We remain neutral about the future of the cryptocurrency market. Volatility and uncertainty in the market are inherent characteristics. Whether it is good news or bad news, it takes time to verify and digest the market.

Dear readers, what do you think of FTX's bankruptcy plan? What impact do you think this $16 billion in cash will have on the market? Welcome to share your views and opinions in the comment area and discuss this interesting topic with us! 😊

In short, although the FTX bankruptcy plan has attracted widespread attention, it may take some time for the actual market reaction to show up. Let us stay tuned and continue to observe the dynamic changes in the market.