#FTX赔付那点事 ：

I originally thought FTX's repayment would drag on for years like Mt. Gox, but it turned out to be surprisingly efficient.

According to the latest update from creditor representative Sunil on May 21, FTX will initiate the compensation process on May 30. Users with claims over $50,000 will first receive 72.5% of their compensation, with the remainder made up to 100% in subsequent distributions, along with interest.

The potential impact on the market is worth noting.

FTX users are primarily high-risk preference investors, with a high proportion of altcoins in their portfolios. Although the total compensation amount is about $16 billion, the actual funds flowing into the market may be much lower. Most institutions will avoid the spot market through OTC trading, limiting the impact on BTC/ETH. Even if 20%-30% is sold, it would only amount to about $3-5 billion, which is manageable for major coins.

However, for illiquid and less popular altcoins, the pressure should not be underestimated.

"Wallet relics" such as $FTT, $OXY, $MAPS, $MEDIA, $FIDA, $BOBA, $SRM, $AMPL are very likely to be liquidated directly, with prices potentially halved or even going to zero, and investors are unlikely to reconsider their positions.

Overall, while the compensation releases positive sentiment, it may still trigger localized selling pressure in the short term, particularly in the small-cap sector, so caution is advised.