FTX Repayment Has $2.4B Predicted to Enter Crypto Market in Q4
Following its downfall in 2023, FTX has seen its repayment plan approved, with one analyst suggesting the decision could lead to $2.4 billion entering the crypto market in Q4 of this year. Indeed, the plan is expected to have a notable impact on the digital asset sector. Specifically, driving significant funds to re-enter the market this year.
The FTX reorganization plan had been long-awaited by the industry. Monday, US District Judge John Dorsey approved the estate of the now-defunct cryptocurrency exchange to follow through on its repayment plan. Moreover, that plan will lead to $16 billion in recovered assets being redistributed to creditors.
Also Read: FTX Wallet Unstakes Millions: Is a Solana Selloff Imminent?
