📣Hey crypto enthusiasts! FTX, the once-mighty crypto exchange, is asking its creditors whether they prefer their recovered funds in good ol' cash or shiny crypto at current market value.🤔💰📈

Judge John Dorsey gave the green light for this survey on June 25. Some creditors aren't too thrilled with FTX's liquidation plan proposed in May. It promised a 118% return for 98% of creditors, based on the US dollar value of asset prices at the time of FTX's bankruptcy filing.

But hey, who can blame them? With the crypto market's total cap increasing by 165% since FTX's collapse, many creditors are advocating for payouts in crypto. Bitcoin was trading around $16,900 when FTX filed for bankruptcy but has since soared 265% to $61,770.🚀

FTX's lawyer, Andy Dietderich, says the vote aims to get feedback from FTX customers who haven't been involved in repayment negotiations so far. But remember, even if creditors favor in-kind crypto repayments, the court isn't obligated to approve them.

Creditors have until Aug. 16 to vote on the plan. Judge Dorsey will decide on its approval on Oct. 7. FTX has recovered $11.4 billion in cash since its bankruptcy filing, with expectations to reach $12.6 billion by Oct. 31.

So, what do you think? Cash or crypto? Drop your thoughts in the comments!👇#DeFi #Web3 #CryptoNews