A fresh wave of liquidity is entering the crypto ecosystem as the FTX Recovery Trust launches its second major creditor payout. Over $5 billion in stablecoins began flowing to eligible recipients on May 30, and Coinbase analysts believe this could spark renewed momentum across digital asset markets.
Unlike the previous round in February—where claimants received a mix of crypto and cash—this phase delivers payouts entirely in stablecoins, providing recipients immediate flexibility to reinvest. Disbursements are being facilitated through Kraken and BitGo, reaching both retail and institutional creditors over a three-day window.
Creditor groups are receiving different recovery percentages: Dotcom and international customers are set to receive 72%, unsecured creditors and digital asset lenders 61%, while U.S.-based customers get 54%. Those with smaller claims under $50,000, classified as “convenience claims,” are being reimbursed at 120% of their approved amount.
Coinbase researchers note that the nature and timing of this payout could lead to significant shifts in trading patterns. They point out that the earlier distribution round failed to lift market sentiment, with the COIN50 index finishing February down 16% amid macroeconomic uncertainty.
But the mood has changed. Bitcoin has recently hit record highs, regulatory clarity in the U.S. is improving, and institutional investors are showing renewed interest in crypto treasuries. With claimants now receiving stablecoins, the expectation is that fewer barriers stand in the way of capital flowing back into crypto markets.
Analysts also emphasized that institutional entities, in particular, are positioned to redeploy funds swiftly—potentially boosting asset prices if enough liquidity returns to exchanges.
As one of the most complex insolvency processes in crypto history, the FTX unwind is still ongoing. But this round of payments, issued in a more investor-friendly form, could mark a turning point not just for creditors—but for the broader market as well.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/ftxs-5b-stablecoin-repayment-could-fuel-market-activity-say-coinbase-analysts/