FTX go pay $1.6B for Dia Third Creditor Payment on Sept 30
FTX go launch di third repayment round for September 30, go distribute like $1.6 billion to verified creditors through BitGo, Kraken or Payoneer. Dis repayment cover retail users wey dey Convenience Class—wey don already recover about 120% of on-ledger balances based on di November 11, 2022 valuation—and unsecured creditors (6A/6B), wey cumulative recovery don reach 85%. US customers go get extra 40% payout (about 95% total recovery), while international dotcom clients go gain 6% more (78% overall). E funded by cash reserves, clawbacks and sales of SOL and SUI assets. Dis phase na steady progress for di $16.5 billion asset recovery effort. Creditors must complete verification and confirm payment channels to receive funds within one to three business days. Traders suppose dey watch as asset sales and FTX repayment dynamics go affect crypto liquidity and sentiment.
Bearish
Even tho FTX don repay $1.6 billion third time wey dey boost confidence for creditors and dey move forward $16.5 billion asset recovery, e partly come from selling SOL and SUI. To sell these crypto assets dey increase short-term selling pressure wey fit make their prices go down. Although di repayment fit ginger market confidence for long run, di immediate effect of more SOL and SUI supply dey likely to make di tokens bearish.