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$SOL Solana NFTs Restored for FTX Claimants, FTT Token Holders Left Empty-Handed 🧐 At first I was a bit confused after I heard this news. Even here at Square, I saw a few people posting that FTX customers are getting their money back. But the reality turned out to be a bit different. 📢 FTX’s bankruptcy estate announced Tuesday that creditors and customers are likely to receive between $14.5 billion to $16.3 billion in total compensation—but that doesn’t include payouts for holders of FTX’s ill-fated FTT token. Around 98% of FTX creditors with allowed claims less than $50,000 will also receive 118% of what they're owed if the plan receives court approval. Based on the USD value of crypto prices when FTX buckled in 2022, the payment represents a little interest on top of funds customers lost 18 months ago, when crypto prices were broadly much lower than they are now. Creditors and customers who lost FTT in FTX’s collapse were previously set to receive cash payments based on their holdings, according to an FTX reorganization plan filed last December. The plan also stipulates that NFT-related claims would see their corresponding JPEGs returned. 🎯 After Changpeng Zhao, founder and then-CEO of Binance, moved to sell the exchange’s FTT holdings, the token nosedived, sparking a flood of investors withdrawing cash from FTX. Failing to process withdrawals, that eventually forced FTX to admit it didn’t hold 1:1 reserves of customer assets. #altcoins #Memecoins #buythedip #ETHETFS #Solana’ $SOL $FTT

$SOL Solana NFTs Restored for FTX Claimants, FTT Token Holders Left Empty-Handed 🧐

At first I was a bit confused after I heard this news. Even here at Square, I saw a few people posting that FTX customers are getting their money back. But the reality turned out to be a bit different.

📢 FTX’s bankruptcy estate announced Tuesday that creditors and customers are likely to receive between $14.5 billion to $16.3 billion in total compensation—but that doesn’t include payouts for holders of FTX’s ill-fated FTT token.

Around 98% of FTX creditors with allowed claims less than $50,000 will also receive 118% of what they're owed if the plan receives court approval. Based on the USD value of crypto prices when FTX buckled in 2022, the payment represents a little interest on top of funds customers lost 18 months ago, when crypto prices were broadly much lower than they are now.

Creditors and customers who lost FTT in FTX’s collapse were previously set to receive cash payments based on their holdings, according to an FTX reorganization plan filed last December. The plan also stipulates that NFT-related claims would see their corresponding JPEGs returned.

🎯 After Changpeng Zhao, founder and then-CEO of Binance, moved to sell the exchange’s FTT holdings, the token nosedived, sparking a flood of investors withdrawing cash from FTX. Failing to process withdrawals, that eventually forced FTX to admit it didn’t hold 1:1 reserves of customer assets.

#altcoins #Memecoins #buythedip #ETHETFS #Solana’

$SOL $FTT

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Another Blow To The SEC? Harsh Statements from Altcoin Under Threat of Lawsuit. 📢 Uniswap Labs, the company behind the largest decentralized crypto exchange, has called on the Securities and Exchange Commission (SEC) to drop its planned lawsuit against them, arguing that the fight is not worth it. In April, Uniswap Labs received a Wells notice from the SEC, a warning that the regulator believed the company was violating the law. In the notice, the Uniswap protocol was accused of operating as an unregistered securities exchange, while its interface and wallet were accused of being an unregistered securities broker. ✍🏽 In response to the SEC's Wells notice, Uniswap Labs disputed these allegations. The company argues that the protocol does not meet the definition of an exchange and is therefore not subject to SEC regulation. Uniswap Labs Chief Legal Officer Martin Ammori stated that the SEC must redefine the concept of an exchange to have jurisdiction over Uniswap. According to the current definition, Uniswap should have been designed specifically for securities trading. “It is a general purpose and the majority of its volume consists of non-security assets such as Ethereum, Bitcoin and stablecoins,” Ammori said, noting that these assets constitute 65% of the protocol's transaction volume. 📌 Ammori also pointed out that the SEC's current exchange definition does not include any of Uniswap Labs' products. Additionally, Ammori rejected the SEC's claim that Uniswap's interface and wallet are brokers, citing a recent federal court decision rejecting the SEC's claim that Coinbase Wallet is an unregistered securities broker. *This is not investment advice. #altcoins #BinanceLaunchpool #buythedip #ETHETFS #BlackRock $UNI
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$ETH $UNI The Secret For That Perfect Entry & Grabbing Big Moves 💲📈 ✨ FAIR VALUE GAP Let's understand FVG first. 📊 FVG is a situation when price moves up or down in an insane amount creating huge candles. Now FVG are of two types: 1. Bullish FVG 📈 2. Bearish FVG📉 Usually in such situations the price moves so rapidly, it doesn't give any time to the buyers/sellers to counteract the move creating an imbalance in the market. 📢 Here, I'll explain the bearish FVG because the market is reversing as the downtrend is coming to an end. So, the buyers will naturally retest this zone. 🖍️ You can mark a FVG by simply marking the candle's top wick before the big move to the candle's lower wick after the big move.(Look for the blue arrows in the chart). The daily charts of ETH & UNI have this green box which is the FVG. Now after the contd downtrend when the price reverses and comes near this box it must close inside or below the box to make the FVG valid & justified. Result: Downtrend continues further. Now when the FVG is valid and the price reaches support, we look for entry. Make sure the support levels are tested multiple times and not broken downside. 📌 So, the best thing to do in this situation is either buy near support. 📌 Or If you have a pre marked entry level, then wait for the reversal from the support. 🙇🏽‍♂️ What I did in Eth was I waited for a reversal and didn't buy near support. So when ETH broke $3000 & stayed above this price I entered. Similarly with Uniswap as well. When the big move comes, the price must close above (outside) the box to make the bearish FVG invalid & give you a profitable trade. 💸💰 The exact opposite of this is Bullish FVG which can be implied after an uptrend to look for selling opportunities. 📢 You'll find such FVG's in plenty on the charts. Start practicing & your life will be much easy. #altcoins #ETHETFS #buythedip #BinanceLaunchpool #MicroStrategy
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