FTX Creditors to Receive $16 Billion in Q4, Potentially Boosting Crypto Market

According to Odaily: Zhu Su, co-founder of Three Arrows Capital, commented that FTX plans to distribute $16 billion to creditors in Q4 2024. While these funds may not fully return to the cryptocurrency market, Zhu suggests that this substantial amount could still have a significant positive impact on digital assets.FTX has proposed returning between $11-16 billion to creditors within 60 days of the reorganization plan's approval, with the next hearing scheduled for October 7. If approved, creditors may receive distributions by December 7, 2024. This influx of funds is expected to benefit cryptocurrencies such as Bitcoin, SOL, and other assets on the Solana network, as many creditors may reinvest in their preferred tokens or ETFs.