FTX's native FTT token has surged by 50% due to false rumors of upcoming credit repayments. The token hit $2.75, its highest since March, before settling at $2.14. Trading volume soared by 1,600%, with most activity on Binance. The spike is linked to FTX's bankruptcy proceedings, with rumors of repayments on Sept. 30 debunked. The court will review FTX's restructuring plan on Oct. 7, potentially leading to repayments by late 2024. However, creditors are concerned about a new plan allocating funds to select shareholders. This move, undisclosed until recently, has sparked outrage among creditors. They fear receiving only a fraction of their assets due to valuation discrepancies. Despite the turmoil, experts like Oluwapelumi and Liam remain optimistic about the transformative power of decentralized technology in the crypto space. Read more AI-generated news on: https://app.chaingpt.org/news