Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Analysis: If FTX's $16 billion repayment to creditors is approved, it may drive the crypto market up

Analysis: If FTX's $16 billion repayment to creditors is approved, it may drive the crypto market up

CointimeCointime2024/07/08 04:31
By:Cointime

On July 8th, Ash Crypto, a cryptocurrency analyst, stated in a post that people are concerned about the crash of MT.GOX and other negative factors, but there are some factors that will drive the cryptocurrency market to new highs. For example, FTX plans to distribute over 16 billion US dollars to its creditors. The timeline is as follows:

1. August 16th: FTX customer voting deadline;

2. October 7th: Judge Dolores will make a decision on the plan.

If the court approves, FTX will repay its creditors within two months. According to the timeline, this will happen between the fourth quarter of 2024 and the first quarter of 2025. This matches perfectly with other positive factors, such as interest rate cuts, the implementation of accounting rules by the Financial Accounting Standards Board, and the results of the US election. Given that most FTX customers are cryptocurrency enthusiasts, the huge amount of 16 billion US dollars will enter the cryptocurrency market and become the biggest catalyst for price increases.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ESUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/16 11:12

New spot margin trading pair — CROSS/USDT, TAC/USDT!

Bitget Announcement2025/07/16 08:07

Subscribe to TANSSI Savings and enjoy up to 15% APR

Bitget Announcement2025/07/15 11:00

TACUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/15 10:40