Jun 2, 04:22 PM

FTX Begins $5 Billion, 3-Day Payouts to Creditors via Kraken and Bitgo, Coinbase Sees Liquidity Boost

FTX has begun distributing $5 billion to its creditors, with payouts occurring over a three-day period through Bitgo and Kraken. The distributions return funds to former FTX users following the platform's collapse. Kraken has officially started transferring funds to FTX creditors, with reports confirming that recipients have received their distributions in their Kraken accounts. According to a Coinbase briefing, the process could boost crypto liquidity. Market observers note that the influx of funds could lead to increased volatility as creditors decide whether to reenter the crypto markets or withdraw their assets entirely. The rapid movement of funds into user wallets is anticipated to impact trading activity and liquidity across major exchanges.

#FTX #Bitgo #Kraken #Coinbase

Written with ChatGPT (GPT-4).