Bitcoin

FTX Token

The cryptocurrency world is closely watching FTX&#39;s progression through its bankruptcy repayment plan, particularly its potential impact on Bitcoin&#39;s performance in the fourth quarter of 2024. After a complex legal process, a U.S. bankruptcy court has green-lighted FTX&#39;s initiative to begin <a href="https://www.cnbc.com/2024/10/07/ftx-bankruptcy-judge-approves-more-than-14-billion-payback-plan.html" rel="noopener noreferrer nofollow">repaying</a> its creditors, with disbursements starting in December 2024.FTX Settlement PlanThis phase is crucial as it aligns with the post-U.S. election period, adding economic and regulatory uncertainty to the market. FTX&#39;s <a href="https://cryptotale.org/ftx-settlement-paves-the-way-for-equitable-customer-repayment-amid-insolvency/" rel="noopener noreferrer nofollow">settlement</a> plan includes a phased repayment process, focusing first on retail investors and smaller claimants, who might recover full or nearly full value of their claims.Around 98% of creditors are set to receive about 119% of the value of their claims based on the November 2022 asset valuations, just before FTX&#39;s downfall. This methodical payout is critical for regaining trust in the crypto sector and marks a significant recovery effort following one of the industry&#39;s largest scandals. But, the creditors are still <a href="https://cryptotale.org/ftx-creditors-dissatisfied-over-their-10-25-crypto-return/" rel="noopener noreferrer nofollow">upset</a> over their 10-25% returns from the FTX repayments.Related: <a href="https://cryptotale.org/ftx-plans-to-pay-customers-and-creditors-by-liquidating-crypto-assets/" rel="noopener noreferrer nofollow">FTX Plans To Pay Customers and Creditors by Liquidating Crypto Assets</a>How Will FTX’s Repayment Plan Affect Bitcoin?The potential inflow of cash into the market from these repayments could create a bullish phase suggesting that recipients may reinvest their recovered funds back into digital assets like Bitcoin. Such an <a href="https://cryptotale.org/bitcoin-breaks-downtrend-bull-market-likely-in-q4-2024/" rel="noopener noreferrer nofollow">influx could uplift market sentiment</a> and possibly drive prices up, especially since Bitcoin has historically performed well from October through March.<a href="https://cryptotale.org/ftxs-repayment-plan-boosts-bitcoins-q4-2024-growth-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

FTX's Repayment Plan Boosts Bitcoin’s Q4 2024 Growth: Report

CryptoTale

Other articles published on Oct 8, 2024

US Supreme Court knocks back case over $4.4B Silk Road Bitcoin

UAE Introduces VAT Exemption for Cryptocurrency Transfers and Conversions

US Crypto ETFs Surge with $350M in New Inflows

New crypto to eye after ADA, SOL slowdown: 800% gains expected in Q4

Ethereum Community Calls Out Bloomberg Analyst for Alleged “Misinformation”

Expert Analyst Predicts This Solana Price Bullish Reversal Pattern Could Send SOL to $1,200

Join our free newsletter for daily crypto updates!