{"id":13556,"date":"2024-05-16T11:40:36","date_gmt":"2024-05-16T08:40:36","guid":{"rendered":"https:\/\/forklog.com\/en\/k33-highlights-bullish-potential-of-ftx-payouts\/"},"modified":"2024-05-16T11:40:36","modified_gmt":"2024-05-16T08:40:36","slug":"k33-highlights-bullish-potential-of-ftx-payouts","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/k33-highlights-bullish-potential-of-ftx-payouts\/","title":{"rendered":"K33 Highlights Bullish Potential of FTX Payouts"},"content":{"rendered":"

Payouts in fiat to FTX creditors could trigger positive “buyer pressure” in the cryptocurrency market, according to a report by K33 Research<\/a>.<\/p>\n

Under the proposed plan by the exchange, the total payout value will range from $14.5 billion to $16.3 billion. Analysts believe these funds are likely to create a “bullish overhang.”<\/p>\n

\n

“Not all creditor settlements are bearish,” the experts noted.<\/p>\n<\/blockquote>\n

K33 compared FTX’s cash compensations with cryptocurrency-based payouts from Mt.Gox<\/a> and Gemini<\/a>\u2014the combined debt of the latter two is “currently estimated at $10.6 billion.”<\/p>\n

\"K33
Comparison of FTX payouts with Mt.Gox and Gemini. Data: K33.<\/figcaption><\/figure>\n

According to analysts, it is “impossible” to predict the impact of the compensations on the market in advance, making the timing of payouts a key element in forecasting.<\/p>\n

The repayment of $1.7 billion by Gemini is scheduled for early June, while the deadline for the $8.9 billion payout from Mt.Gox is set for October 2024.<\/p>\n

\n

“The different dates of these payouts represent yet another sign of a slow summer in the market and a confident end of the year,” the researchers added.<\/p>\n<\/blockquote>\n

In April, K33 experts highlighted<\/a> the risks for Bitcoin from Mt.Gox payouts. They believe that the prospect of selling 142,000 BTC could “frighten the market.”<\/p>\n

Uncertainty remains regarding FTX, as the court has yet to approve the repayment plan.<\/p>\n

Earlier, a representative of the largest group of affected exchange clients, Sunil Kavuri, opposed the new compensation model, arguing that it limits recipients’ options and absolves some defendants of liability.<\/p>\n","protected":false},"excerpt":{"rendered":"

Payouts in fiat to FTX creditors could trigger positive “buyer pressure” in the cryptocurrency market, according to a report by K33 Research. Under the proposed plan by the exchange, the total payout value will range from $14.5 billion to $16.3 billion. Analysts believe these funds are likely to create a “bullish overhang.” “Not all creditor […]<\/p>\n","protected":false},"author":1,"featured_media":13555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1309,1236,1167],"class_list":["post-13556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-compensation","tag-ftx","tag-k33"],"aioseo_notices":[],"amp_enabled":true,"views":"45","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13556"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13555"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}