Magnet Capital: Some FTX repayment funds may flow back to the encryption market

Golden Finance reported that the creditors of bankrupt cryptocurrency exchange FTX will receive over $12 billion in payments in the next few months, as approved by the court, increasing the possibility of some cash being reinvested in digital assets. According to FTX’s disclosure, the group has already recovered $14.7 billion to $16.5 billion, while the claimed amount by creditors is $11.2 billion. Benjamin Celermajer, Co-Chief Investment Officer of Magnet Capital, said that the expected payment by FTX is actually providing liquidity to known cryptocurrency traders. We are likely to see some funds flowing back into the crypto market, potentially serving as a catalyst for liquidity-starved markets.