Cryptocurrency

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ftxs-bankruptcy-plan-raises-questions-about-asset-distribution/" data-wpel-link="internal">FTX’s Bankruptcy Plan Raises Questions About Asset Distribution</a> 
The approved bankruptcy plan of FTX is primarily focused on payments to creditors. However, this situation may not immediately exert the anticipated significant impact on the <a href="https://en.coin-turk.com/what-are-wrapped-tokens/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/crypto-market-rides-high-as-bitcoin-tests-57000/" data-wpel-link="internal">cryptocurrency</a> market. A recent report from Presto Labs indicates that investors may be overly excited about the situation, as it remains unclear whether FTX’s approximate $16 billion in payments will return to the market promptly. 
<h2 style="text-align: justify" id="strong-uncertainty-surrounds-asset-return-to-the-cryptocurrency-market-strong">Uncertainty Surrounds Asset Return to the Cryptocurrency Market</h2> 
FTX plans to distribute assets totaling between $14.7 billion and $16.5 billion to creditors. The management that took over after the bankruptcy has been preparing for this for a long time. However, Presto Labs expresses skepticism that these assets will flow directly into the cryptocurrency market, contrary to general expectations. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-395364" src="https://coin-turk.com/wp-content/uploads/2024/10/FTX-Borsasi.jpg" alt="" width="1280" height="720"> 
The report emphasizes that a comprehensive analysis regarding who the creditors are and how they will evaluate these assets has yet to be conducted. Therefore, after the payments are made, it remains uncertain how much of this amount will be converted to cryptocurrency. Given this context, it’s impossible to definitively state whether the cryptocurrency market will benefit significantly from these payments in the short term. 
<h2 style="text-align: justify" id="strong-when-do-payments-begin-strong">When Do Payments Begin?</h2> 
The payment process for FTX will commence 60 days after the plan has “officially come into effect.” However, this date has not yet been clarified. Due to this uncertainty, expecting a revitalization of the cryptocurrency market shortly appears unrealistic. 
As noted in the report released by Presto Labs, some market observers also believe that even if payments begin today, it seems unlikely that this will create substantial movement in the cryptocurrency market in the short term. This is primarily due to the lack of clarity surrounding the process and the fact that the assessment of the assets lies entirely with the creditors. 
While there are significant expectations in the market regarding the payments to be made under FTX’s bankruptcy plan, how this money will re-enter the market and its potential impact remains uncertain for now. 
The post <a href="https://en.coin-turk.com/ftxs-bankruptcy-plan-raises-questions-about-asset-distribution/" data-wpel-link="internal">FTX’s Bankruptcy Plan Raises Questions About Asset Distribution</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

FTX’s Bankruptcy Plan Raises Questions About Asset Distribution

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