2 Reasons The Multi-Billion FTX Payout Will Not Send Crypto Higher
The FTX estate will distribute billions, but the price impact will be less than some investors … [+]
As the saga and long shadow of FTX continues to dominate crypto discourse, the recent news that the long-awaited bankruptcy distribution had been approved was – justifiably so – a headline generating event. Nearly 2 years after the implosion of the exchange and 1 year after the conviction of Samuel Bankman-Fried on criminal charges, the unlocking of between $14 and $16 billion from the bankruptcy estate has market analysts revising price targets upwards. With reports that 98% of FTX creditors will receive approximately 119% of allowed bankruptcy claims there is understandable optimism for what these…
