FTX has announced plans for upcoming repayments to creditors of the bankrupted crypto exchange after initiating its first round of reimbursements on Feb. 18.
According to a Feb. 18 announcement, the next repayment distribution will take place on May 30 for holders of allowed claims of āClass 5 Customer Entitlement Claims and Class 6 General Unsecured Claims.ā It includes customers who had assets on the platform when it collapsed and other creditors, such as vendors and trading partners.
FTXās next repayment round requires creditors to have verified claims by April 11 ā the record date to qualify for distribution.
According to Sunil Kavuri, an FTX creditor and advocate, the round of repayments starting in May will include claims for a value above $50,000. These creditors will need to choose a distribution agent by April 11, Kavuri added.
Under FTXās recovery plan, 98% of creditors are expected to receive at least 118% of their claim value in cash. In May 2024, the exchange estimated the distributionās total value to range between $14.5 billion and $16.3 billion.
XRP in 2025: š to the Moon or š» Market Blues?
The XRP community is buzzing with speculation about its future in 2025! Will it ride the next crypto wave to new heights, or will it face another year of challenges? š¤
Bullish Signs:
* Increased adoption: More financial institutions are exploring XRP for cross-border payments. š¦ * Regulatory clarity: Positive developments in the legal landscape could boost investor confidence. āļø * Tech advancements: Ripple's ongoing innovations could unlock new use cases for XRP. š”
Bearish Concerns:
* Market volatility: The crypto market remains unpredictable, and XRP is not immune to swings. š¢ * Competition: Other cryptocurrencies are vying for a share of the payments market. āļø * Past performance: XRP has faced regulatory hurdles and price fluctuations in the past. š§
The Verdict?
It's hard to say for sure! XRP's success in 2025 will depend on a mix of factors, including market trends, regulatory decisions, and the progress of Ripple's technology. š®
Stay tuned for more updates and join the conversation! š£ļø
$XRP /USDT Bull Run Alert ! š„šÆ $XRP is gaining momentum after reclaiming key support at $2.75. A push above $2.85 could trigger further upside movement, with strong bullish sentiment in play. Long Setup ⢠Entry Zone: $2.78 - $2.82 Targets: ⢠T1: $2.85 ⢠T2: $2.90 ⢠T3: $2.98 ⢠T4: $3.10 ⢠Stop Loss: $2.70 A breakout above $2.85 with volume confirmation could push XRP towards $3.10 quickly. Any pullback toward $2.75 may act as a strong support zone. Pro Tip: Watch for RSI levelsāif overbought conditions appear, expect a temporary consolidation before the next breakout. #XRP #CryptoTrading #BullishMomentum š