BULLISH: FTX will start distributing over $5 billion in stablecoins to creditors today. The distributions may take a few days.
The money that FTX will distribute may shift to Bitcoin and altcoins. There was movement in the $FTT price on the days when FTX made payments to creditors. Today, the $FTT price is following the general market situation with a 5% decrease.
The FTX and LUNA/UST crashes caused a major decline in the cryptocurrency market. At this point, payments are being made to the victims of these two crashes. TerraformLabs also recently received Crypto Loss Claims from investors affected by the LUNC/UST crash. In the applications made under the control of the SEC; payments will be made to the applications deemed appropriate.
Such developments can be very positive for cryptocurrencies in the long term. Will the main coins of the two crashes, $LUNC and $FTT, be able to return to their former power? We may learn the answer to the question investors are most curious about soon.
