Optimistic: FTX will begin distributing over $5 billion in stablecoins to creditors today. The distributions may take a few days.
The money that FTX will distribute can be transferred to Bitcoin and altcoins. There was movement in the price of $FTT on the days when FTX made payments to creditors. Today, the price of $FTT follows the overall market situation, with a drop of 5%.
The collapses of FTX and LUNA/UST caused a significant decline in the cryptocurrency market. At this moment, payments are being made to the victims of these two collapses. TerraformLabs has also recently received Cryptocurrency Loss Claims from investors affected by the LUNC/UST crash. In applications made under the control of the SEC, payments will be made to applications deemed appropriate.
Such developments may be very positive for cryptocurrencies in the long term. Will the major coins from the two collapses, $LUNC and $FTT , be able to return to their former power? Soon, we may discover the answer to the question that interests investors the most.
