The false news of FTX restart caused the price of FTT to break through 3 US dollars, reaching a maximum of 3.43 US dollars, which may have trapped many investors again.
According to the latest news from FTX, creditors of the bankrupt cryptocurrency exchange FTX will receive more than 12 billion US dollars in the coming months under a payment plan approved by the court, which may cause some funds to flow back into digital assets. FTX said that the group has recovered between 14.7 billion and 16.5 billion US dollars, while the total creditor claims are 11.2 billion US dollars. Benjamin Celermajer, co-chief investment officer of Magnet Capital, pointed out that FTX's repayment "is actually providing liquidity for known cryptocurrency traders, which may prompt some funds to flow back to the crypto market, thereby providing price support for the illiquid market." It should be noted that the repayment will not be carried out immediately. FTX needs to set up a trust and hire a company to oversee the fund distribution process.
