FTX bankruptcy plan approved, over 10 billion funds will flow into the crypto market

Yesterday, John Dorsey, a judge of the Delaware Bankruptcy Court, approved FTX's bankruptcy plan. 98% of creditors will receive funds of 14.7 billion to 16 billion within 60 days after the PC plan takes effect.

The effective date of the plan and the expected first distribution date will be announced separately.

This huge amount of funds of about 15 billion US dollars will most likely flow into the crypto market

, helping Bitcoin break through its previous high.