---
title: "Major event in the cryptocurrency circle! FTX bankruptcy restructuring approved, a wave of liquidity is on the way?"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/216326393.md"
description: "FTX's bankruptcy reorganization plan has been approved by the court, and creditors will receive over $12 billion in the coming months, potentially reinvesting in digital assets. FTX has recovered $14.7 billion to $16.5 billion, with 98% of creditors expected to receive 119% repayment. Despite October typically being a strong period for digital assets, the top 100 tokens have dropped by 3% this month. Analysts expect FTX's payout to provide liquidity to the crypto market, but fund distribution will take time, with transfers for smaller creditors starting as early as December"
datetime: "2024-10-09T08:12:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216326393.md)
  - [en](https://longbridge.com/en/news/216326393.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216326393.md)
---

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# Major event in the cryptocurrency circle! FTX bankruptcy restructuring approved, a wave of liquidity is on the way?

**Creditors of the bankrupt cryptocurrency exchange FTX are set to receive over $12 billion in the coming months under a court-approved payment plan, increasing the possibility that some of the cash may be reinvested in digital assets.**

Earlier, a U.S. court judge approved FTX's restructuring plan, allowing it to repay creditors for the first time, involving an amount exceeding $14 billion.

In June this year, the bankrupt exchange had $12.6 billion to return to customers, which could reach $16.5 billion after discovering and selling all its assets, **as the price of Bitcoin has more than doubled since FTX's collapse, resulting in higher proceeds from asset sales than estimated.**

According to information released by FTX, **the group has recovered between $14.7 billion and $16.5 billion**, while creditors have claimed $11.2 billion. Therefore, under the restructuring plan approved by Judge John Dorsey, **98% of creditors can receive 119% of the reported amount by November 2022**. FTX CEO John Ray III stated that the group's goal is to repay all debts and interest to all non-government creditors.

Cryptocurrency traders are now seeking sources of volatility to break Bitcoin and other tokens out of their long-term slump. Despite October typically being a strong period for digital assets, the index measuring the top 100 tokens has fallen by 3% this month, increasing the possibility that the rebound in the crypto market that has been ongoing for a year is losing momentum.

Benjamin Celermajer, Co-Chief Investment Officer at Magnet Capital, stated that **the expected FTX payments "are effectively providing liquidity to known cryptocurrency traders. We are likely to see some funds flowing back into the crypto market, potentially providing a price catalyst for markets suffering from a lack of liquidity."**

It is worth noting that repayments will not happen immediately; FTX must first establish a trust and hire a company to oversee the fund allocation process.

Galaxy stated that **transfers to smaller creditors could start as early as December**, **while transfers to larger creditors will be completed in the first half of next year**. The company mentioned that the remaining claims may take up to three years to resolve.

Research firm K33 estimated in a report that the **"potential demand for FTX redistributors" is $2.4 billion**, but cautioned that **the current impact on the cryptocurrency market may be "moderate"** as payments will be phased next year

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