The repayment of debts by FTX exchange to creditors has finally begun after months of anticipation, but contrary to expectations, this event did not have a positive impact, leading the market into a downward trend. The FTT token, associated with FTX, saw a price increase with the announcement of the repayments, but this growth was not sustained and quickly fell. The collapse of FTX exchange in 2022 brought a major shock to the cryptocurrency industry, with one remaining issue being the repayment to creditors, which has now finally commenced. In the initial stage, $1.2 billion in cash was injected into the market through these repayments, but to everyone’s surprise, this did not have a positive effect on market growth. Analysts have expressed concerns about this situation, attributing the lack of market growth to various factors such as the current turmoil in the cryptocurrency market and the dominance of meme coins diverting demand away from altcoins. In this uncertain environment, the initiation of FTX exchange debt repayments failed to have the expected impact, leaving the future of the market still uncertain. Meanwhile, FTX exchange has announced the next distribution date for customer and creditor claims. According to the exchange, the next round of payments will be made on April 11, 2025. Subsequently, the next rounds of payments will start from May 30, 2025, and customers will need to complete identity verification (KYC) and other necessary steps to receive their funds.
