FTX to Distribute $5 Billion in Stablecoins: Massive Liquidity Event for Crypto Market

FTX, facing a legal battle and undergoing a restructuring process, is set to distribute nearly $5 billion worth of stablecoins to creditors on May 30th. This unprecedented move, which represents approximately 2% of all stablecoins in circulation currently, has sparked considerable attention from the crypto community. The distribution marks one of the largest payments in crypto history and comes at a time of significant market recovery for Bitcoin.