Bankrupt cryptocurrency exchange FTX’s repayment plan continues to advance, with final results expected at a hearing on October 7. However, we know that if FTX’s creditors’ assets are not stablecoins, they can only recover 10-25% of their cryptocurrency value (based on the cryptocurrency price on the date of FTX’s bankruptcy filing). (Preliminary summary: FTX claims latest "must fill in the "W-8 BEN tax return"! Full tutorial on the creditor's filling steps) (Background supplement: SBF's appeal of the FTX case "is not satisfied with the 25 years"! Calling the judicial process unfair, asking for a reduced sentence to 6.5 Year) The restructuring team of bankrupt cryptocurrency exchange FTX announced last month that creditors had voted to approve its repayment plan. The FTX liquidation team will file a petition with the U.S. state of Delaware before a confirmation hearing scheduled to begin on October 7. The bankruptcy court submits the final voting results, and after the plan is approved by the court, the repayment process is expected to start within 60 days at the earliest. According to the current plan of the restructuring team, FTX will repay creditors in cash or U.S. dollar-pegged stablecoins. The company is estimated to have as much as $14.5 billion to $16.3 billion in cash to distribute after all assets are sold, while it owes about $11.2 billion to customers and other nongovernmental creditors. Therefore, officials say that the vast majority of users (those who have held funds under $50,000) will be able to receive about 118% in cash compensation. Some creditors can only recover 10-25% of the value. However, it is important to clarify that the loss compensation is calculated based on the platform funds on the day FTX exercised Chapter 11 of the Bankruptcy Law. Therefore, unless the assets placed by users on FTX are stable coins, the actual Still a big loss... For example, when the bankruptcy application was filed, the price of one Bitcoin was only about $16,000, but the current price of Bitcoin is close to $66,000, which means that if you had a BTC in FTX at the time, you might only get it back in the end $16,000, less than 25% of current price. As a result, FTX creditor Sunil Kavuri expressed strong anger about the repayment plan, saying that many FTX customers suffered from mental distress, panic attacks, divorce and even suicidal thoughts because their life savings were stolen and their properties were not repaid. The reorganization plan faces challenges. In fact, Sunil Kavuri and his followers are not the only opponents of the FTX repayment plan. In August 2024, a U.S. trustee responsible for overseeing the bankruptcy proceedings also questioned the FTX reorganization plan, arguing that The plan provides excessive legal protection to managers and representatives of the FTX restructuring team. The U.S. Securities and Exchange Commission (SEC) has previously stated that it may oppose FTX’s restructuring plan if it chooses to use stablecoins to repay customers. Regardless, further answers are expected on October 7th. Can FTX repayment become a cash source in the fourth quarter? If all goes well, the TX bankruptcy proceedings are expected to inject significant capital into the market in the fourth quarter. Forbes analysis predicts that creditor distributions may total as much as $16 billion, which is expected to add a bullish outlook to the fourth-quarter trend of the currency market. The report also pointed out that since most compensation will be paid in US dollars, most of which is expected to return to the market, Bitcoin is expected to receive the greatest boost. Related reports: SBF’s ex-girlfriend Caroline is afraid of being imprisoned! In the FTX case, I begged the judge for a lighter sentence: I am very good... I promise not to commit any more crimes. FTX repays the money to save the market? Injecting "USD 16 Billion" Analyst: In conjunction with interest rate cuts and the general election, BTC rose above 120,000. The FTX repayment plan was overwhelmingly approved by creditors. When will compensation be started at the earliest? FTT jumps 10% 〈FTX creditors can only get back 10~25% of crypto assets: Bitcoin is getting more and more sad...the fastest repayment is Q4〉 This article was first published in Dongzuo BlockTempo "Dongzuo Trend-The Most Influential Powerful Blockchain News Media".