Genesis, a bankrupt crypto lender, will repay approximately $3 billion to its creditors, but its corporate parent, Digital Currency Group, will not receive any funds.
K33 Research analysts predict a bullish crypto market trend driven by FTX's repayment of at least $14.5 billion to creditors.
FTX, the bankrupt crypto exchange, has unveiled a repayment plan to fully reimburse creditors and customers, including compensation for investment time value, with unexpected parties emerging as the primary beneficiaries.
FTX, the bankrupt crypto exchange, plans to use its $16 billion in cash to repay 2 million customers affected by its collapse in November 2022.
Creditors of the defunct Mt. Gox Bitcoin exchange have started receiving updates on their portion of the $9 billion Bitcoin repayment, marking progress in the compensation saga.