Bitcoin has surged over 500% since FTX's bankruptcy

Taking Bitcoin as an example, when FTX filed for bankruptcy protection, the price of BTC was only about $16,000, but now the price of Bitcoin has skyrocketed to about $98,000. This means that if creditors had held one Bitcoin at FTX at that time, they might only get back $16,000, which is about 16% of the current price, indicating a significant loss. (Even if you get 118%, it’s still a huge loss!)

Do not have misconceptions about FTX's repayment!!!

The news of FTX's upcoming repayments is a huge positive for the crypto market. FTX will start repaying creditors $16 billion from January 3, and in this process, you will need to fill out a form to register; if you do not register within six months, you won't be compensated later!

FTX's repayments will not start on January 3. The first batch of repayments is expected to wait until February to March 2025 and will only be for creditors in the 'convenience category,' totaling $1.2 billion.

For creditors with claims exceeding $50,000, a total of $10.5 billion will be paid subsequently. He further pointed out FTX's total asset overview:

Cash reserves: $13 billion

Venture portfolio and litigation proceeds: expected to be between $5 billion and $7 billion:

About 50% of the claims have been acquired by claim buyers, but these buyers are not interested in crypto assets, which may reduce the possibility of funds returning to the crypto market.

At that time, many institutions purchased part of FTX's claims at a discount, meaning some liquidity flowed into the hands of institutions. Nevertheless, FTX's situation has slowly come to a conclusion over the years, at least there is compensation, which is better than nothing!

This is also a positive for the crypto circle; at least from the current perspective, liquidity has somewhat increased!

For the bankruptcy sector: FTT, LUNA, LUNC, USTC can be paid attention to!