Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: rdluffy on September 03, 2024, 04:22:04 PM
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
-
Based on mount gox it will take at least 3-5 years for payouts. So maybe it helps down the road maybe 2028 it helps.
Not in 2024 or 2026.
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
Before going bankrupt, FTX was one of the largest exchanges in the world and sponsored many major world events, but even if FTX keeps their promises, it will not have a big impact on the market (even if they manipulate the market), they have damaged public trust.
-
Absolutely not yet, the exchange market have been bankrupt have difference cases with other exchange like got hack cases and received refund later what happen with Mt. Gox exchange. pessimistic with FTX will refund for their costumer almost one years since bankrupt and the developer run away until arrested but not release yet how their member fund will get back or not.
Many exchange before have cases such as FTX and almost never refund their member assets, I believe all assets of FTX exchange have run away by their developer and get enjoying under arrest only than refund for their member assets.
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
One thing I love about cryptocurrency investor is that when there is any opportunity they seems not to cease it because they knows that it would yield something big in the future, even though they incur significant lost at the duration of doing that they still didn't care about it. But one thing for sure is that bitcoin has is yet to fully enter into bull run of 2025 so, even though this money is being paid out to their users they would still utilized this money and put them back into cryptocurrency bitcoin precisely.
-
Based on mount gox it will take at least 3-5 years for payouts. So maybe it helps down the road maybe 2028 it helps.
Not in 2024 or 2026.
I have a feeling that in this case, things will go faster than Mt.Gox, I bet 2025 because they already have the money to pay back the victims/users
All users, including me, already submitted KYC, we voted, we checked our funds etc
Before going bankrupt, FTX was one of the largest exchanges in the world and sponsored many major world events, but even if FTX keeps their promises, it will not have a big impact on the market (even if they manipulate the market), they have damaged public trust.
I'm not saying about FTX and trust, it's about the money users will receive from FTX, and possibly going back to crypto market
...
pessimistic with FTX will refund for their costumer almost one years since bankrupt and the developer run away until arrested but not release yet how their member fund will get back or not.
Many exchange before have cases such as FTX and almost never refund their member assets, I believe all assets of FTX exchange have run away by their developer and get enjoying under arrest only than refund for their member assets.
The FTX group already has the money, it has been recovered not only in full, but has exceeded the amount they owe users (value in dollars)
-
Well op let me start wit the title of your post which obviously is a question. Now when you refer to FTX bringing money to the crypto market, first thing I'll like to know is exactly how much? The crypto market is a simultaneously broad and volatile market making it a little difficult for certain amounts of equivalent fiat to have a noticeable effect on the market.
To better understand the direction of my point, take the bitcoin network into consideration for example, some whales per say, moving about say 100 bitcoins which in fiat is an equivalent of over $586,000 may not have any noticeable effect on the bitcoin network especially in terms of price. However on the other hand that same amount would collapse a couple of other crypto markets.
-
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
But this was just a speculation. We do not know yet if the money would be in stable coin or fiat. But I read a news that FTX executive or so are warned not to let the money to be in stable coin. Be it in fiat or stable coin, it is possible that it might have good effect on cryptocurrencies because people will want to use the coin to buy coins like bitcoin. But we should know about how the coin would be distributed. Is it going to be distributed in days, weeks or months or years? The longer the distribution time will take the less would be the effect.
-
Absolutely not yet, the exchange market have been bankrupt have difference cases with other exchange like got hack cases and received refund later what happen with Mt. Gox exchange. pessimistic with FTX will refund for their costumer almost one years since bankrupt and the developer run away until arrested but not release yet how their member fund will get back or not.
Many exchange before have cases such as FTX and almost never refund their member assets, I believe all assets of FTX exchange have run away by their developer and get enjoying under arrest only than refund for their member assets.
in theory more than 75% of the funds were recovered.
but cases are very slow.
and if 3 billion usd worth was eth it has gone down to maybe 2 billion
and if 3 billion usd worth was btc it has stayed about 3 billion
lastly if 1 billion usd in alts was recovered it is likely only 600 million
so I think i read 7 billion was recovered if they are all staying in the coins they were they are likely at 6 or maybe 5.5 billion.
only btc is close to 2021 numbers.
Still a lot of wealth.
No transparency on who holds the recovered funds.
No transparency on exact amount of each coin
Not transparency on time they will be distributed.
But one day billions will be dealth out. Maybe 2028
-
it will happen in few years. to which they will probably make it very timely to push the price down during the bear market. distributing the FTX payout during bear market is like a real boss manipulation while they are also going to be buying coins. i think it may also be the best time to buy along with the whales when they distribute these payout.
it should influence the market since investors will also dump their coins before the payout happens. i would probably do the same. why suffer when its an opportunity for everyone to make money.
-
These investors will definitely continue to invest in cryptocurrency, seeing how robust the market is, but I'm sure they will learn where to put their money now, and this money could only have an impact if they are paid in full one time, but I guess it will likely be on an installment basis, so the impact in the market is not that relevant.
-
I am not sure creditors are getting their money anytime soon, so many times we thought mt.Gox was about to repay creditors, but they didn't until this year; ftx still has a few years ahead of us. However, to answer your question, it depends on the medium of payment, if they are paid in stablecoins, some customers might convert their stablecoins to BTC and other crypto, it also depends on how so many of them view the crypto industry right now.
-
I wish we could see the number of FTX users who quit after a horrible experience with the exchange and those who are used to that kind of situation. Not all of them are veterans for sure and I'm confident that a good percentage already hate crypto after that incident. The refunds they'll get are likely to be stored back to a savings account.
-
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
If they get the money in fiat then most of the investors might avoid investing their money in crypto again due to fear. However, if they get their money in crypto stable coins then there's huge chance that most of those investors might choose another trusted platform and invest their money in crypto again.
-
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
The entire refunding process will definitely take time, but it’s uncertain how long it will take, considering that FTX had a massive number of users before it went down. Considering that investors' money will be paid out in batches, it won't really influence the market in any way, since all the funds won't be returned once.
But we can't be too sure of what some of these investors might want to do with their previously lost funds. Some may choose to stay in the crypto space by investing in new crypto related projects, while others might just want to cash out. But I don't think receiving their money in either stable coin or fiat will have any impact in their decision making on how to spend it.
What I am really curious about is how the funds of investors who have passed away will be handled. It’s certain that not all of them are still alive, so what will happen to those funds?.
-
Do you think it could be relevant? Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
We already know that FTX and what happened to it are all now part of the cryptocurrency history and when somebody will be bringing in the name Sam Bankman-Friend we would immediately associate him with his mismanagement of one of the biggest crypto-based platforms operating around the globe. Now, is FTX still relevant and the answer is YES until such time when all the things that should be settled are settled. Users, investors and creditors should get their money back according to what is left in there and what can be recovered. We can never know how much of the coming money to be returned will be reinvested with the crypto market but am sure a big percentage of that will be and would this be influencing the prices in the market...the answer to that is yes but it would be minimal, am not seeing a big impact on this in the market since FTX is already counted in with the current market positions.
-
Well, I don't think it will have any influence in the market because based on what I have read about that case, every victim will not just get their money back at once, the order for repayment can last for more than one year and which the re-payment is scheduled for a gradual procedure, it will not really have any influence on the market.
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Aside what other users here have said that this money won't likely enter the market once, which is to say that it might take some years before the affected users get a full refund of their lost money.
16 billion dollars is a lot of money to be honest, but I personally do not think that this entering the market again will be relevant, some who have moved on and earned a good living even in the absents of this funds may likely invest the money back into crypto, which may cause the price of some assets to rise.
But on that other hand, those who are broke and looking forward to the disbursement of this funds may likely sell and cash it out, which may cause the price of some assets to drop.
So, what I see here is a market that is side ways as a result of some people selling and some people buying.
But all the same, I wish all the victims good luck in getting their lost funds back.
-
if there is a long time before coins are given back and btc is big say 250k or 300k.
I would think it would drop btc if released at a high price in say 2029 or so.
but I do not worry about 2029.
-
@philipma1957, from what I've read things seem to be moving at light speed here compared to Mt.Gox, so that gives hope that the victims will still be compensated much sooner than in a few years. Maybe that is the goal of some people, because if the money were returned, then the sentence for Bankman could be reduced or the president (whoever he was) could pardon him on that basis.
As for the money, whether it is $7 billion or $16 billion, it is certain that the money will not be paid out all at once, nor will everyone immediately invest in cryptocurrencies. After all, when you look at the amounts traded in a 24-hour period, the data shows that BTC and ETH alone have about $50 billion in trading volume.
-
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
If they paid in fiat, it would be a good thing because all that money would enter the crypto market, increasing demand and potentially leading to a pump. However, if they made that repayment in crypto, the market could crash since $16 billion is no small amount. It would cause a bigger dump than the events in Germany and August did.
This will affect BTC in the short term, but it should recover quickly. As far as I know, FTX will not pay in cryptocurrency. Instead, they will likely use other forms, maybe even a diversified approach. The SEC isn’t likely to intervene to ensure they repay in fiat, but they might push for repayment in crypto.
-
@philipma1957, from what I've read things seem to be moving at light speed here compared to Mt.Gox, so that gives hope that the victims will still be compensated much sooner than in a few years. Maybe that is the goal of some people, because if the money were returned, then the sentence for Bankman could be reduced or the president (whoever he was) could pardon him on that basis.
As for the money, whether it is $7 billion or $16 billion, it is certain that the money will not be paid out all at once, nor will everyone immediately invest in cryptocurrencies. After all, when you look at the amounts traded in a 24-hour period, the data shows that BTC and ETH alone have about $50 billion in trading volume.
well i read a lot but not so much lately.
there was 9 bill missing and in under three months about 7 bill was found.
but I am going from memory of 2022 fall. not from recent articles.
mt gox was vanished for a longer time. and it could be the funds will be sent out quicker. than mt gox which was near 8 year time.
so maybe four year time here which would be 2026.
they won’t dump it all in a week or so. I would figure payout will be spread for months.
-
if there is a long time before coins are given back and btc is big say 250k or 300k.
I would think it would drop btc if released at a high price in say 2029 or so.
but I do not worry about 2029.
@philipma1957, from what I've read things seem to be moving at light speed here compared to Mt.Gox, so that gives hope that the victims will still be compensated much sooner than in a few years. Maybe that is the goal of some people, because if the money were returned, then the sentence for Bankman could be reduced or the president (whoever he was) could pardon him on that basis.
Yes, it seems that things are happening more quickly than others
Mt Gox was an extremely long case, but we can take as an example Celsius which recently had problems an, has already paid more than half of the users. Celsius is/were a recent case too
(https://i.ibb.co/wRvTwRY/Captura-de-tela-2024-09-06-231132.png) (https://ibb.co/jTpdWTH)
Source (https://www.fxstreet.com/cryptocurrencies/news/bitcoin-and-crypto-market-survives-supply-overhang-as-celsius-repayment-distribution-cools-202408272030)
As I said, FTX has already done several KYC procedures, voting etc and it seems that there is a general movement for things to go quickly, obviously it is a big and billionaire process, but already have enough interest
And VERY important, they have the recovered money in hand, it's not missing or lost, it's in their accounts right now
-
If FTX pay 98 percent of investors money then it would definitely be a good move. This will be a breakthrough for the crypto platform, even if people's trust does not fully increase. As far as I know in this matter they will pay their customers those who have 50 thousand dollars or its equivalent investment. They will pay in fiat very soon for those who invested. However, it is not yet certain whether the bankruptcy court has approved it or not. Personally I think this means If customers are returned then the market will become strong again.
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
The situation of the FTX is different, when compared to MTgox exchange hack, and the users settlement benefits that that took many years. FTX was a case of misappropriation of funds by the former CEO who is currently serving jail terms.
Now concerning FTX users settlements, it depends on the coin to be used for the settlement; if the payments will be on
stable coins, then it may bring more investment into the crypto market. If payment will be on Bitcoin or altcoins, then we may experience a dump on the crypto market. This is imy opinion.
-
These investors will definitely continue to invest in cryptocurrency, seeing how robust the market is, but I'm sure they will learn where to put their money now, and this money could only have an impact if they are paid in full one time, but I guess it will likely be on an installment basis, so the impact in the market is not that relevant.
The word installment, has convinced that the price will not return, because the movement continues, and we can see how much payment power there is in installments of the funds available,
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
The lawsuit is still ongoing, but it seems that users will get their money back from FTX
We still don't know if it will be in stable or fiat. The SEC could possibly intervene to demand payment in fiat
But the point I want to make is that FTX will pay around 16 billion dollars in total (estimated value)
All users are crypto users and we could possibly see this money returned to the crypto market
Do you think it could be relevant?
Can it influence the market to have more price hikes or do you think most will take the money and invest in other markets?
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
The situation of the FTX is different, when compared to MTgox exchange hack, and the users settlement benefits that that took many years. FTX was a case of misappropriation of funds by the former CEO who is currently serving jail terms.
Now concerning FTX users settlements, it depends on the coin to be used for the settlement; if the payments will be on
stable coins, then it may bring more investment into the crypto market. If payment will be on Bitcoin or altcoins, then we may experience a dump on the crypto market. This is imy opinion.
Interesting. Thanks for sharing it up!
It seems logical to me if your case is true that the dump would be there.
The question is - how much? ;D
-
These investors will definitely continue to invest in cryptocurrency, seeing how robust the market is, but I'm sure they will learn where to put their money now, and this money could only have an impact if they are paid in full one time, but I guess it will likely be on an installment basis, so the impact in the market is not that relevant.
The word installment, has convinced that the price will not return, because the movement continues, and we can see how much payment power there is in installments of the funds available,
Making payments in installments to affected users certainly still gives great hope for a significant increase if it is done correctly.
But the obstacle is that FTX's reputation has been destroyed and will not be able to recover as usual, but the return process depends on whether it is returned in the form of its original coins such as FTX, BTC or will only be converted to Stablecoins at a certain coin price when FTX closes.
But I don't know, this return will determine whether FTX can rise again or not, or will just be abandoned later.
-
Making payments in installments to affected users certainly still gives great hope for a significant increase if it is done correctly.
But the obstacle is that FTX's reputation has been destroyed and will not be able to recover as usual, but the return process depends on whether it is returned in the form of its original coins such as FTX, BTC or will only be converted to Stablecoins at a certain coin price when FTX closes.
But I don't know, this return will determine whether FTX can rise again or not, or will just be abandoned later.
We already have some answers to these questions:
FTX is not going to work again. There was an attempt to sell the exchange for a possible return as FTX 2.0, but there were no buyers
Payments will be made in USD dollars, we're still not sure if it will be in fiat or stable, but I'd say that only a couple of people who file a lawsuit with a private lawyer can possibly be able to recover the amount in coins such as BTC and SOL, because the idea is to recover the amount in USD that the coins valued at the moment of the problem, so BTC was at 20k if I'm not mistaken
-
FTX is not going to work again. There was an attempt to sell the exchange for a possible return as FTX 2.0, but there were no buyers
Payments will be made in USD dollars, we're still not sure if it will be in fiat or stable, but I'd say that only a couple of people who file a lawsuit with a private lawyer can possibly be able to recover the amount in coins such as BTC and SOL, because the idea is to recover the amount in USD that the coins valued at the moment of the problem, so BTC was at 20k if I'm not mistaken
That will be a fact that will be debated by many former FTX users.
Although FTX can bounce back, it will just be abandoned and people don't believe it anymore.
And returns in USD are the easiest way for them to save that expense, but with the help of lawyers, users can get in the form of their coins.
It will probably only be done by users with a considerable amount of assets.
-
FTX is not going to work again. There was an attempt to sell the exchange for a possible return as FTX 2.0, but there were no buyers
Payments will be made in USD dollars, we're still not sure if it will be in fiat or stable, but I'd say that only a couple of people who file a lawsuit with a private lawyer can possibly be able to recover the amount in coins such as BTC and SOL, because the idea is to recover the amount in USD that the coins valued at the moment of the problem, so BTC was at 20k if I'm not mistaken
That will be a fact that will be debated by many former FTX users.
Although FTX can bounce back, it will just be abandoned and people don't believe it anymore.
And returns in USD are the easiest way for them to save that expense, but with the help of lawyers, users can get in the form of their coins.
It will probably only be done by users with a considerable amount of assets.
Well FTX will still have some large obstacles to overcome, but this could also be an opportunity for the platform to stage a massive comeback. It may take more efforts to restore the confidence of users; However, some strategies such as the return of coins may be beneficial to investors with massive capital since they offer options and possibilities of making more profits. It could be a chance to start a new one on a more stable ground provided the necessary steps and the right professional guide through this process.
-
The good: FTX somehow found 16 billion dollars and all of that is going back to investors. If I remember correctly, their peak market cap was around thirty something billion dollars, and most of that was FTT.
The bad: No price rice for now, embrace the dip that will happen when all of these people sell off their coins on the market.
The ugly: Do not even think about bringing back FTX from the dead.
-
-snip-
However, some strategies such as the return of coins may be beneficial to investors with massive capital since they offer options and possibilities of making more profits. It could be a chance to start a new one on a more stable ground provided the necessary steps and the right professional guide through this process.
Starting something new?
Remember that users are already quite hurt and disappointed with the FTX CEO who committed a dirty act and looked like a hero at first.
Even if FTX makes quick returns or that it makes a profit, people will never come in again.
The good: FTX somehow found 16 billion dollars and all of that is going back to investors. If I remember correctly, their peak market cap was around thirty something billion dollars, and most of that was FTT.
The bad: No price rice for now, embrace the dip that will happen when all of these people sell off their coins on the market.
The ugly: Do not even think about bringing back FTX from the dead.
It will be good exit liquidity, the return will give users the opportunity to sell their coins and stay away from FTX.
And anyone who tries to rise from the dead will only be the undead, they will only be abandoned and ignored.
-
The good: FTX somehow found 16 billion dollars and all of that is going back to investors. If I remember correctly, their peak market cap was around thirty something billion dollars, and most of that was FTT.
The bad: No price rice for now, embrace the dip that will happen when all of these people sell off their coins on the market.
The ugly: Do not even think about bringing back FTX from the dead.
Good comparison hahaha ;D
About selling the coins and causing a dip...
These coins have probably been sold for the most part, already being in dollars in the accounts of the FTX administrator, so I think this may actually be a good thing because some customers will be able to use the money to invest in cryptos again
-
Good comparison hahaha ;D
About selling the coins and causing a dip...
These coins have probably been sold for the most part, already being in dollars in the accounts of the FTX administrator, so I think this may actually be a good thing because some customers will be able to use the money to invest in cryptos again
If this happens, I don't think the market will dump, because there will be no selling, only buying. When people get their money back in fiat, they will start buying altcoins and BTC, which will create hype in the market.
There's news circulating about refunds being issued in fiat, possibly because they know FTX has already sold the assets and now holds fiat only. They said they made enough profit from their early investments, which is how they gathered enough funds to repay the customers. This suggests the payments will be in fiat.
-
Good comparison hahaha ;D
About selling the coins and causing a dip...
These coins have probably been sold for the most part, already being in dollars in the accounts of the FTX administrator, so I think this may actually be a good thing because some customers will be able to use the money to invest in cryptos again
If this happens, I don't think the market will dump, because there will be no selling, only buying. When people get their money back in fiat, they will start buying altcoins and BTC, which will create hype in the market.
There's news circulating about refunds being issued in fiat, possibly because they know FTX has already sold the assets and now holds fiat only. They said they made enough profit from their early investments, which is how they gathered enough funds to repay the customers. This suggests the payments will be in fiat.
Maybe people will use it accordingly and rebuy the crypto with the fiat they've got ;D
Didn't hear about this news, but heard about the whole FTX biz.
-
Maybe people will use it accordingly and rebuy the crypto with the fiat they've got ;D
Didn't hear about this news, but heard about the whole FTX biz.
I also did not find any official news that they will be paying in fiat but you can find the news about how they made enough funds to repay the FTX victims back any way we can't actually be right one hundred percent about them rebuying the crypto but their nature will force them to buy again.
But if the repayment was made late and they got no opportunity to buy crypto again then they will use that money and some might already have made their mind to step away from crypto even after getting their funds back.
-
I received this email from FTX yesterday
Another update, this time related to tax information
(https://i.ibb.co/GpXpxJ6/Captura-de-tela-2024-09-18-075204.png) (https://ibb.co/ZX3XLJj)
This is one more thing that shows that the process is being updated, and I'm optimistic that it won't take too long.
-
I received this email from FTX yesterday
Another update, this time related to tax information
(https://i.ibb.co/GpXpxJ6/Captura-de-tela-2024-09-18-075204.png) (https://ibb.co/ZX3XLJj)
This is one more thing that shows that the process is being updated, and I'm optimistic that it won't take too long.
Interesting! It's great to hear the that situation moves to its conclusion.
Keep us updated!
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
can it influence the market to have more price hikes
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
It is very obvious that if FTX gives back $16 billion to users, it will affect the crypto market, but it depends on what people do with the money. Some will likely reinvest in crypto, which could raise prices while many people may prefer to cash out or invest elsewhere especially after the FTX collapse has made them loose their confidence. If it’s paid in crypto or cash will also matter because getting paid in crypto could make it easier to reinvest. In summary, it might boost the market but not all the money will come back to crypto.
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
can it influence the market to have more price hikes
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
It is very obvious that if FTX gives back $16 billion to users, it will affect the crypto market, but it depends on what people do with the money. Some will likely reinvest in crypto, which could raise prices while many people may prefer to cash out or invest elsewhere especially after the FTX collapse has made them loose their confidence. If it’s paid in crypto or cash will also matter because getting paid in crypto could make it easier to reinvest. In summary, it might boost the market but not all the money will come back to crypto.
Totally. I've read there it would be given in fiat, so, it's up to the people to reinvest it again.
However, with the news of BingX being hacked in a similar manner, I highly doubt how that would go.
-
I received this email from FTX yesterday
Another update, this time related to tax information
(https://i.ibb.co/GpXpxJ6/Captura-de-tela-2024-09-18-075204.png) (https://ibb.co/ZX3XLJj)
This is one more thing that shows that the process is being updated, and I'm optimistic that it won't take too long.
There's no escaping the tax man eh?
With how things are developing and from the articles I've read on future meetings, distribution will probably start early next year. That's probably a great timing for most people expecting a sharp increase in price by the end of the year and planning to sell ;D
-
(https://i.ibb.co/7pbsQCx/martelo-de-juiz-com-logo-da-ftx-no-fundo.webp) (https://ibb.co/fNQj9FV)
can it influence the market to have more price hikes
Source of Image (https://portaldobitcoin.uol.com.br/justica-dos-eua-acusa-ex-candidata-ao-congresso-de-usar-dinheiro-da-ftx-ilegalmente-em-sua-campanha/)
It is very obvious that if FTX gives back $16 billion to users, it will affect the crypto market, but it depends on what people do with the money. Some will likely reinvest in crypto, which could raise prices while many people may prefer to cash out or invest elsewhere especially after the FTX collapse has made them loose their confidence. If it’s paid in crypto or cash will also matter because getting paid in crypto could make it easier to reinvest. In summary, it might boost the market but not all the money will come back to crypto.
This are crypto individuals, so I will still suspect that they are going to put back the money inside again because they know that they have a good chance to make money and cover the losses they got from the FTX collapse.
So it's a win win for us and for the market, and so if this goes as plan next year, we might see a huge spike in the price and it could trigger the bull run that we wanted to see in 2025, catapulting the price to $100k++.
-
I received this email from FTX yesterday
Another update, this time related to tax information
(https://i.ibb.co/GpXpxJ6/Captura-de-tela-2024-09-18-075204.png) (https://ibb.co/ZX3XLJj)
This is one more thing that shows that the process is being updated, and I'm optimistic that it won't take too long.
There's no escaping the tax man eh?
With how things are developing and from the articles I've read on future meetings, distribution will probably start early next year. That's probably a great timing for most people expecting a sharp increase in price by the end of the year and planning to sell ;D
Interesting, didn't read those articles, but I am sure what you described will happen ;D
The end of this year and the start of 2025 should be when the Bull is seen with its horns upfront.
-
There's no escaping the tax man eh?
With how things are developing and from the articles I've read on future meetings, distribution will probably start early next year. That's probably a great timing for most people expecting a sharp increase in price by the end of the year and planning to sell ;D
Pay your taxes and the government will let you in peace of mind ;D
There are some talk about this year, I saw here: https://www.altcoinstalks.com/index.php?topic=324495.msg1630259#msg1630259
But to be honest I'm a bit doubtful, I think it'll take a few months for everything to be concluded, but it would be great if it was this year hehe
It would certainly help with the end-of-year rally
-
This is the updated situation, I just made the form about taxes, and probably, the last step before payments
(https://i.ibb.co/cCBNzDt/Captura-de-tela-2024-09-25-072234.png) (https://ibb.co/fngCm4t)
I hope they start to pay soon, maybe the end of the year :P