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Dispute among creditors over FTX's compensation plan

By Yugocean | Crypto Today | 10 May 2024

Dispute among creditors over FTX's compensation plan


       FTX has proposed to sell assets, and pay creditors 118% of the then token value. This plan has divided lenders into two groups.

   Objection: FTX creditors' representative Sunil Kavuri, citing the current increased prices of cryptos, has demanded that the compensation be paid in crypto and not in dollars at the then prevailing price.

     Accepting FTX proposal: A section of creditors rejected Sunil's demand, believing that by rejecting the compensation offer this time, the next opportunity may come years later, so the payment should be accepted.

  Majority Supports Sunil: Most creditors believe that Sunil is right, because if they are paid in dollars, not only will they lose money based on the current value of crypto, but the tax on the dollar will do reverse than compensating them.




$20k Trading Contest for HTX hot token

     HTX has announced its 3rd Hot Token Futures Trading Carnival. Traders need to trade Memecoins DOGE/ PEPE/ WIF/ ETHFI/ ENA with USDT (perpetual futures in cross margin and isolated margin modes)

  • Reward: A prize pool of 20k USDT.
  • Time schedule: Between May 7 and 14.



Binance's 54th Launchpool project : NOT

   Binance announced its 54th Launchpool project Notcoin (NOT). NOT is mentioned as "a community token which onboarded users into web3 through a tap-to-earn mining mechanic."

     Farming NOT (via FDUSD and BNB) is available for 3 days, starting from13th May to 16th May. NOT will be available for trading on 16th May at 12:00 (UTC).



Machi Big Brother is Selling ETH to buy FRIEND

     Machi Big Brother is trading $ETH to buy $FRIEND, the friend tech token. Lookonchain data reveals MMB is buying FRIEND in large quantity.

   $FRIEND was recently added to GateIo, one of the big exchanges, and although the value isn't very bullish, it might get noticed by others.

    However, one must be careful, as Machi Big Brother is known for his scam projects and spat with ZachXBT.

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