Ftt paid out, good news for Ftt, the bankruptcy sector took off!!!
Review of FTX bankruptcy:
In November 2022, a tweet from CZ caused the FTX building to collapse instantly. FTX triggered a run on investors due to insufficient liquidity. After Binance announced that it would no longer advance its acquisition plan, FTX filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code on November 11, and founder and CEO Sam Bankman-Fried announced his resignation.
Its affiliated company Alameda Research has more than 100,000 creditors, and its assets and liabilities are estimated to be between US$10 billion and US$50 billion. After multiple rounds of asset and token sales, the bankrupt crypto exchange FTX's restructuring team has claimed that the accumulated funds are sufficient to fully compensate creditors and customers for their losses in the bankruptcy incident. The current compensation amount is as high as 16 billion US dollars, and it will be paid as early as October.
Some people may wonder, since the compensation is in cash, do they have to dump the market in exchange for cash before making compensation? This is not the case. As early as 2022, the bankruptcy liquidation was carried out, and the 16 billion compensation has long been prepared. It is not necessary to dump the market in exchange for cash for compensation when the compensation time comes.
