On September 29, Zhu Su, co-founder of Three Arrows Capital, remarked on FTX’s anticipation of distributing $16 billion in assets to creditors during Q4. While full market reintegration of these funds may be optimistic, the sheer volume has considerable implications for the cryptocurrency market. Reports have indicated that FTX aims to return between $11 billion and $16 billion to creditors by Q4 2024, potentially providing a notable uplift for cryptocurrencies like Bitcoin and those within the Solana network. Although the precise timeline remains uncertain, FTX has stated that funds will be disbursed within 60 days post-approval of the restructuring plan. An upcoming hearing scheduled for October 7 will determine the plan’s next steps. Upon approval, distribution to creditors is expected by December 7. It’s anticipated that much of this capital will re-enter the cryptocurrency ecosystem as creditors reinvest in preferred tokens or ETFs.
Source: https://en.coinotag.com/breakingnews/ftx-expected-to-distribute-16-billion-q4-boosts-confidence-in-bitcoin-market-recovery/