FTX’s $1.2 billion repayment is seen as a significant liquidity event for the industry that may bolster cryptocurrency valuations.
Cryptocurrency investor optimism is palpable ahead of US President-elect Donald Trump’s inauguration on Jan. 20, which is expected to bring more regulatory clarity to the industry.
Bolstered by the prospect of more industry-friendly regulations, the XRP (XRP) token rose to its highest level since 2018, unfazed by the latest legal appeal of the US Securities and Exchange Commission.
Adding to the positive outlook, the bankrupt FTX exchange is preparing to repay over $1.2 billion to its users after Trump’s inauguration, which is seen as a significant liquidity event for the crypto market.
