$FTT Discusses the Buying Logic of FTT
Summary:
1. There is still a possibility of the FTX platform being restarted.
2. FTT holders may receive compensation.
3. Founder SBF has a possibility of being pardoned, and after the pardon, there is a high probability of a restart.
4. The FTX platform meets the needs of all parties' interests.
Detailed reasons are as follows:
1. The FTX exchange will begin bankruptcy liquidation on January 3, 2025. It will be completed within the next 60 days. This will bring some speculation.
Of course, many people say that the legal team responsible for the FTX trading platform and the U.S. courts have clearly stated in the bankruptcy documents that the exchange will not be restarted, only prioritizing compensation to creditors. However, this does not preclude the possibility of FTX restarting after compensation is completed.
2. On the financial side, the restructured assets of the FTX platform are between $14.5 billion to $16.3 billion, with debts amounting to about $11.2 billion, according to multiple rounds of compensation plans. All creditors will receive compensation of over 100% of their funds. Various issues will arise during the compensation process, such as clients who cannot verify KYC or funds that are not claimed within the specified time frame will be reclaimed. The author believes that these reclaimed funds will be compensated to FTT holders. Currently, the claim value of the FTT token is still 0. Holders do not have the right to any property rights distribution or voting rights. The author believes that a creditor plan for FTT will be introduced in the future.
3. SBF previously provided substantial financial support for the Democratic Party's Biden campaign. This is also why Musk publicly discussed on Twitter that he would be surprised if the Biden administration did not release SBF. At the very least, Biden's pardon power could be subject to “insider trading.” Referencing CZ's freedom.
Even if the Biden administration does not pardon SBF, there is a possibility that SBF may be pardoned after the Trump administration takes office in mid-January 2025 (including but not limited to the possibility of trading rights for FTX money).
4. After Trump takes office, the U.S. will use BTC as a strategic reserve. The entire U.S. population is participating in the cryptocurrency space, and the U.S. government also needs a clean and compliant exchange. The FTX platform currently meets the needs of all parties' interests and aligns with the evolution of major trends.
Finally, the author believes that after the initial compensation is completed, the speculative value of FTT will be around $10. If a compensation plan is introduced for FTT holders, the price of FTT will be around $28. If SBF is pardoned and the trading platform is restarted later, FTT could reach a height of $300.
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