As the year concludes, the allocation of funds from FTX, the defunct crypto exchange, is approaching finalization. Reports indicate that $16 billion has been allocated for FTX creditors, with users suggesting that the process is approaching finalization.
A customer, who had liquidated the majority of their funds before FTX’s insolvency, indicated that they are poised to get a modest amount and intend to reinvest in Bitcoin, characterizing the dividend as “free money.”
This revelation indicates a possible reinvestment trend among FTX creditors, who may want to reinvest their disbursements in prominent crypto such as Bitcoin. Crypto analyst Xremlin predicts that a segment of the $16 billion may reenter the crypto market, stimulating purchasing activity for Bitcoin and Solana.
Analysts contend that this disbursement may profoundly influence the wider crypto market, as the allocated money originates from assets liquidated by the US government, initially obtained through looted consumer payments.
