Traders, owner of the atherium in their FTX holdings, stand to achieve $ 2,500 as FTX repayment for their Bahamas creditors starting from this month.
The FTX repayment scheme is scheduled to begin on February 18, through Bitgo, will repay the claims of fully creditors including interests. However, customers will not be able to get additional benefits from current market prices for their FTX holdings, as the repayment scheme will return crypto holdings as per the prices of November 2022.
This means that the traders who had kept Bitcoin (BTC) in the Crypto Exchange now. Post,
Today, Bitcoin is about five times more of its market value in 2022. At the time of writing, Bitcoin has been trading at $ 97,988 at $ 97,988 in the last 24 hours, growing slightly by 0.28% in the last 24 hours.
On the other hand, Etreum (Eth) holders can breathe a sigh of relief as they stand to achieve $ 2,500 from their holding in FTX. Even though the price of atherium today is $ 2,698, a significant difference of approximately $ 200 from its 2022 price, loss is almost scaling because it is for bitcoin holders.
Many traders on X had mixed reactions about creditor repayment. Most of them were commenting on how the price of atherium has been relatively stable in the last two years, while bitcoin has hit the sky.
“They should pay the market price at the time of payment !!” One user said.
“Mixed news: BTC recovery, ETH price remains stable,” said another user.
As the previously reported by crypto.news, the restructuring plans became effective from January 3, which required creditor repayment to proceed within 60 days thereafter. Court filing revealed that the Payout reserves on the deformed Crypto Exchange are about 13 billion dollars.
Although this may be the case, the property has filed half of the total amount for disputed claims to withdraw. Therefore, the accurate amount allocated for the Bahamas creditor repayment is unknown.
Crypto’s veteran FTX 2022 collapsed under the leadership of founder Sam Bankman-Fride. The forum investigation revealed corporate mismanagement and fraud, allegedly orchestrated by Bankman-Fride. He was eventually convicted for several allegations, which led to the fall of the firm and sentenced to 25 years behind bars.
