- FTX will begin $16 billion in creditor repayments on February 18th.
- The repayments will be based on values from November 2022.
- FTX Token (FTT) soared a massive 8.4% in the past 24 hours.
Nearly two years since its collapse in November 2022, the now-defunct crypto exchange FTX will begin its much-awaited creditor repayments starting February 18th. And so now, crypto market watchers are wondering if this move could really shake up digital assets, given the sheer size of the payouts.
Creditors Balk at “Lowball” Repayment Values
According to official documents making the rounds on X (formerly Twitter), a substantial $16 billion will be repaid to creditors.
However, only around $6.5-$7 billion will go out in the first phase, with the rest coming later. Importantly, the payouts will be based on the prices of digital assets back in November 2022.
Market watchers have expressed strong dissatisfaction with FTX’s repayment plans because back when FTX went under, Bitcoin was trading between $16,000 and $21,000. Right now, the top digital currency is sitting at $97,000 with an all-time high of $109,000 seen about 22 days ago, data from CoinMarketCap confirm…
The post FTX Creditors to Be Repaid Starting Feb 18, but at 2022’s Rock-Bottom Prices appeared first on Coin Edition.
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