“Not all creditor repayments are bearish,” said K33’s analysts, noting FTX's cash payouts versus the crypto repayments from Gemini and Mt. Gox.
Slated cash repayments to FTX creditors could create a wave of bullish “buying pressure” in the crypto market, says K33 Research analysts.
FTX is set to pay a minimum of $14.5 billion in cash to users who lost funds in the exchange’s bankruptcy. These payouts would likely create a “bullish overhang” for the market, K33 analysts Vetle Lunde and Anders Hesleth said in a May 14 report.
“Not all creditor repayments are bearish,” said the analysts, contrasting FTX’s expected cash repayments with the planned crypto-based repayments from Mt. Gox and Gemini — the latter two combined “currently valued at $10.6 billion.”
