Could the FTX payout bring money back to the crypto market?

[Blaze]

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.

[NotATether]

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.

[taufik123]

-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.

[rdluffy]

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 

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

[ZAINmalik75]

Good comparison hahaha 

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.

[enoch_from_off]

Good comparison hahaha 

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
Didn't hear about this news, but heard about the whole FTX biz.

[ZAINmalik75]

Maybe people will use it accordingly and rebuy the crypto with the fiat they've got
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.

[rdluffy]

I received this email from FTX yesterday
Another update, this time related to tax information



This is one more thing that shows that the process is being updated, and I'm optimistic that it won't take too long.

[enoch_from_off]

I received this email from FTX yesterday
Another update, this time related to tax information



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!

[Hatchy]

can it influence the market to have more price hikes

Source of Image

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.

[luckyledger]

can it influence the market to have more price hikes

Source of Image

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.

[Zed0X]

I received this email from FTX yesterday
Another update, this time related to tax information



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

[Jating]

can it influence the market to have more price hikes

Source of Image

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++.

[enoch_from_off]

I received this email from FTX yesterday
Another update, this time related to tax information



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

Interesting, didn't read those articles, but I am sure what you described will happen
The end of this year and the start of 2025 should be when the Bull is seen with its horns upfront.

[rdluffy]

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

Pay your taxes and the government will let you in peace of mind 

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