Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
FTX Starts Refunds! How Will It Affect Altcoins?

FTX Starts Refunds! How Will It Affect Altcoins?

BitcoinsistemiBitcoinsistemi2025/02/18 23:55
By:Elif Azra Güven

Some users reported receiving FTX refunds via the Kraken platform.

According to the latest information, some users are reporting that they have received FTX refunds via cryptocurrency exchange Kraken.

FTX announced that they would begin paying back the first group of creditors on February 18, a significant development for the cryptocurrency industry following its sudden crash in November 2022.

Accordingly, FTX’s Bahamas wing will issue the first batch of refunds to users with debts of less than $50,000.

While approximately $1.2 billion is expected to be distributed in the first batch of refunds, Bitget Wallet’s chief operating officer Alvin Kan said that FTX refunds are a positive signal for the recovery of cryptocurrencies.

“A significant portion of the $1.2 billion in refunds could be reinvested in cryptocurrencies, potentially positively impacting market liquidity and prices.

“Refunds may boost investor confidence by showing that the market is recovering after the FTX crash. However, calculating the payments based on the low prices in 2022 may not fully meet investors' expectations and may also deter investors from investing.”

Nexo chief executive Magdalena Hristova said the initial FTX refund was a significant step forward, but the impact of the capital coming into the market would be limited.

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Meta greenlights up to 3x salary increment for executives after staff lay off

Share link:In this post: According to reports, Meta has approved a new bonus plan that will allow executives to earn bonuses of up to 200% of their base salary. The bonus plan comes not long after Meta announced plans to reduce its workforce by dismissing up to 4000 low-performing employees. Some employees affected by the layoffs have expressed surprise, citing recent positive performance reviews.

Cryptopolitan2025/02/21 13:33