FTX go release 1.9 billion dollar disputed debt reserve for Sep 30
FTX don schedule to pay compensation on September 30 to release $1.9 billion wey dem hold for disputed debt reserve. This one go cover Class 5 customer claims, Class 6 general unsecured claims plus new convenience claims wey dem approve after court talk say make dem reduce disputed claims reserve from $6.5 billion to $4.3 billion. Approved creditors go need finish KYC, submit tax forms and choose how dem want payment (BitGo, Kraken or Payoneer) before registration close on August 15. Dem gats complete transfer of claims before deadline, but e get 21 days wey people fit protest. When money don reach the service providers, creditors dey carry am custodian. This step na big one for FTX asset recovery, e show clear clear how dem dey do compensation and e go help rebuild trust among creditors and the whole crypto market.
Bullish
Di pikin-shedul buruk dis $1.9 billion weh dem dey tok say dem go release for disputed debt reserve be big step for FTX bankruptcy and forma make dem fit recover dia asset dem. For short time, this compensation fit make creditors no too press for sell, e go also make market better for FTX side. For long time, if dem manage this disputed debt reserve well, make dem clear the time for people to register their claim, e go help make institutional and market pesin dem trust again, e go be good example for how dem fit take settle matter inside the big cryptocurrency world.