According to Odaily Planet Daily, Zhu Su, co-founder of Three Arrows Capital, commented that "FTX expects to distribute $16 billion to creditors in Q4." Even if these funds cannot be fully returned to the crypto market, it is still a large number, which may imply that it will boost the market.
As previously reported, FTX's return of $11-16 billion to creditors in the fourth quarter of 2024 could provide a significant boost to the cryptocurrency market, especially Bitcoin, SOL, and Solana network cryptocurrencies. While the exact date is unclear, FTX has proposed that the distribution will take place within 60 days of the restructuring plan taking effect. The next hearing on the restructuring plan is scheduled for October 7. If approved, FTX will have 60 days to distribute assets to creditors, which means the returned cash will reach previous cryptocurrency buyers sometime before December 7. A large portion of this cash is likely to remain in the cryptocurrency ecosystem, with creditors reinvesting the funds in their favorite tokens or ETFs.
