FTX Begins $5 Billion Creditors Repayment: Potential Impact on Crypto Markets

FTX has initiated the distribution of $5 billion to creditors as part of its recovery process, potentially reigniting liquidity in the cryptocurrency market. The funds will be handled by BitGo and Kraken, managed under the FTX Recovery Trust and overseen by John J. Ray III, with payments expected to range from 54% to 120% of approved claims. This move could significantly impact Bitcoin and Ethereum prices as it reintroduces capital into the market.