FTX Creditors Emerge as Possible Fillip for Ailing Crypto Market

Crypto exchange FTX’s creditors are set to receive more than $12 billion in coming months in a court-approved payout plan, raising the prospect that some of the cash could be plowed back into digital assets.

The bankrupt platform in June had $12.6 billion to return to customers, a figure that may reach $16.5 billion after all its assets are found and sold. Initial distributions of about $1.1 billion are relatively small but are set to support Bitcoin, Galaxy Digital Holdings Research Head Alex Thorn wrote in a note.

Read more: FTX Clear to Repay Customers as Firms ...