The #crypto Market is about to be pumped with Liquidity.
Bankrupt crypto exchange FTX has filed a motion to pay $14 million to fund Emergent Fidelity Technologies, for its claims of Robinhood shares worth over $600 million.‼️
The $14 million will be used to pay for Emergent’s administrative expenses to avoid the cost and delay of litigation related to the investment firm’s claims in around 55 million seized Robinhood shares and cash worth over $600 million in total.
FTX has called the settlement agreement “another valuable piece of the puzzle” in its reorganization plan.
#FTX's #FTXRecovery #CryptoMarketTrend

FTX has gained court approval for its bankruptcy plan, enabling it to repay customers using up to $16.5 billion in recovered assets.
During a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge John Dorsey approved the plan, praising it as a model for resolving complex Chapter 11 bankruptcy cases.
The approved plan is based on settlements with FTX customers, creditors, U.S. government agencies, and liquidators handling operations outside the U.S.
FTX will prioritize customers, aiming to repay 98% of those holding $50,000 or less on the exchange. These repayments are expected to be completed within 60 days after the plan's effective date, which remains pending.
The post "FTX Secures Court Approval for Bankruptcy Plan, Prioritizes Customer Repayment" first appeared on 36crypto.com News.
#FTXRecovery #moonbix #Ftx❓

Great news for the crypto world! In a groundbreaking moment for FTX customers, the long-awaited bankruptcy plan has officially been approved—unlocking an incredible $16 billion in recovered assets. 🎉 This isn't just a win for FTX but a huge milestone for the entire cryptocurrency community.
What This Means for FTX Customers
FTX customers can now breathe a sigh of relief as this plan promises full repayment. After months of uncertainty, the recovery effort has paid off, marking a turning point in the crypto bankruptcy saga. 😎
Setting a New Standard in Crypto Recovery
This successful recovery plan is more than just a victory for FTX users; it sets a precedent for transparency and accountability across the blockchain industry. As we all know, the crypto space has been plagued by challenges around trust and asset recovery—but this development is a shining example of how even in the toughest situations, there’s a path forward. 💡
Why Binance Traders Should Pay Attention
For traders on Binance and other platforms, this sets the stage for better safeguards and more confidence in the crypto ecosystem. It reinforces the need for robust systems and governance, ensuring that even when things go wrong, there’s a way back up. The $FTT token and #FTXRecovery now serve as strong symbols of resilience.
What’s Next for Crypto?
With $16B now back in circulation, we could see a ripple effect across the market, potentially driving a renewed sense of optimism in the space. 💰💸 The FTX story is not just about recovery; it's about how the blockchain can offer transparency and security in the face of adversity.
Stay tuned—this is just the beginning! 👀
#Binance #FTXRecovery #CryptoNews #BlockchainResilience #FTT

Date: Fri, Oct 04, 2024, 05:21 AM GMT
The cryptocurrency market is buzzing today as FTX Token (FTT), the native token of the defunct FTX exchange, experienced a remarkable surge. Over the past 24 hours, $FTT has jumped more than 13%, while its value has soared by over 60% in the last week.

Source: Coinmarketcap
What's Driving the Rally?
The recent spike in FTT’s price is being fueled by growing anticipation around FTX’s ongoing bankruptcy proceedings. Speculation is mounting that the bankruptcy estate could soon begin distributing funds to creditors and customers. This comes after the majority of creditors voted in favor of an updated reorganization plan.
The Hearing’s Significance
The key date everyone is watching is the upcoming October 7 hearing. This hearing could mark a major turning point, potentially kickstarting the actual repayments to FTX’s creditors. If approved, the plan would allow smaller claimants (those owed less than $50,000) to receive their payments by the end of 2024. Larger creditors, however, may have to wait until 2025 to see their claims settled, as reported by Cointelegraph.

Source: X (Twitter)
For FTT holders, the hearing’s outcome could make or break the token’s current rally. If the court approves the plan, FTT could see sustained growth, following the patterns of recovery seen in other cryptocurrencies. However, if the plan faces delays or rejections, FTT’s price may tumble just as quickly.
Technical Outlook
From a technical perspective, analysts like CryptoBull_360 are keeping a close eye on FTT's chart. Currently trading at $2.37, FTT is approaching a crucial resistance level. It is forming a symmetrical triangle, a pattern that often signals a potential breakout.

Credits: CryptoBull_360
A confirmed move above $2.44 could trigger further gains, with $3 being the next major resistance level to watch.
Conclusion
As the October 7 hearing looms, all eyes are on FTT and how the court's decision will impact its price. Whether the token continues its upward momentum or faces a sharp reversal depends heavily on the outcome of the bankruptcy proceedings.
Get more updates at: coinsprobe.com
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
#FTX #FTXRecovery #FTT