In the last hearing of the FTX bankruptcy process, the judge approved the company's liquidation plan, which provides for the TOTAL reimbursement of customers during 2024.
It also emerges that the bankrupt CEX has abandoned all efforts to revive the FTX exchange due to lack of liquidity and the difficulty in gaining trust in new buyers.
While there is availability to cover the debt encountered with former users, who have been waiting for almost two years to know what will happen to their blocked funds.
Sam Bankman-Fried was found guilty of fraudulently using user holdings, leading to the collapse of FTX in November 2022 and severely compromising the entire industry.
The news just mentioned pushed the FTT token, leading it to rise by 11% in just 24 hours. Speculation and the news regarding refunds certainly influenced the climb the most.
Recently there has been talk about FTX not only for the process and refunds, but above all for the outflow from Grayscale's GBTC ETF, in which CEX's holdings amounted to around a billion dollars.
The suspicions, therefore, are that the bankrupt company may have recovered some liquidity from the product in question.
However, all this does not seem to be enough to bring the platform back into activity. No potential buyer seems willing to take the risk of such an operation and FTX seems increasingly close to disappearing from circulation.
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