FTX Launches $5 Billion Creditor Repayment Program: A Significant Liquidity Boost for Crypto Market

FTX has initiated the second phase of its user repayment program, targeting to distribute over $5 billion in funds to creditors within the next three days. This disbursement will be facilitated by platforms BitGo and Kraken. The move signifies a significant liquidity event for the cryptocurrency market, potentially impacting stablecoin supply by roughly 2%. Creditors may reinvest their holdings in crypto assets, influencing market dynamics.