- FTX's $16B Repayments Start in March 2025; Disputed claims can delay funds for as much as 3 years.
- AI brokers unfold misinformation, inflicting confusion in regards to the FTX compensation schedule.
- The FTT token jumped 5% following inaccurate AI reporting on redemption dates.
An FTX creditor has known as out a well-liked AI agent for spreading false details about FTX's upcoming claims distribution. On the heart of this controversy is FTX's extremely anticipated creditor compensation plan, which totals greater than $16 billion and can repay 1000’s of collectors who misplaced funds in the course of the inventory market collapse in November 2022.
FTX's $16 Billion Compensation Plan
The failed crypto alternate acquired approval from a US courtroom in October 2024 for its compensation plan. This plan permits FTX to distribute $16.5 billion to its collectors over a 60-day interval beginning in March 2025. The defunct alternate is anticipated to conclude its Chapter 11 reorganization plan by January subsequent 12 months.
Nevertheless, within the final 24 hours, a number of crypto influencers and information bots, together with aixbt, reported that FTX will start reimbursing its victims as early as January 3, 2025. This was coupled with comparable reviews from a number of different prime influencers plan, together with Ash Crypto. .
FTX Creditor Truth Examine Compensation Information
FTX creditor Sunil has reached out to X to make clear the proper compensation schedule and figures. In line with Sunil, FTX's precise liquidity is nearer to $13-14 billion. Of this quantity, roughly $5-7 billion might be spent on enterprise capital portfolios and litigation prices (disputed claims).
Sunil defined that disputed claims is not going to be distributed internally and restoration might take as much as 3 years, relying on the authorized course of. The remaining funds, roughly $7 billion, might be distributed beginning March 25, 2025.
Credibility of AI brokers in crypto
This incident has raised issues in regards to the credibility of AI brokers within the crypto world. These brokers, like aixbt, present information and data to the crypto group on platforms like tokens.
For instance, a couple of minutes after aixbt's FTX launch, the worth of the FTT token jumped by greater than 5%. This token additionally noticed a 100% improve in buying and selling quantity following the information. On the time of writing, FTT was buying and selling at $3.45.
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