The savior is coming❓
FTX is about to pay $16 billion in compensation to creditors, which will bring new funds to the market.
Since FTX went bankrupt in 2022, in order to repay creditors' debts, FTX has carried out a series of asset liquidations.
These assets mainly come from FTX's liquidation of various assets it held at the time of its bankruptcy, including investments in cryptocurrencies, technology companies, venture funds, and real estate.
According to current news, customer voting will end on August 16, and the judge will decide whether to approve it on October 7, but the biggest question at present is whether FTX has so much cash?
The largest known amount of funds is that FTX has previously invested $5 billion to acquire shares in AI startup Anthropic, and found $6.4 billion in cash from it.
But this is still a far cry from $16 billion. In any case, if it can be approved, it will be good news for creditors and the entire crypto circle, and we are worth looking forward to it.
