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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
FTX's reorganization plan will take effect on January 3, 2025, with initial distributions starting within 60 days, facilitated by partners Kraken and BitGo. Creditors must complete necessary steps, including KYC validations and tax forms, to be eligible for payments. The recovery plan, approved by a US Bankruptcy Judge, is valued at $16.5 billion, potentially dropping to $14.7 billion after cash conversion.
Coinbase faces a $1 billion lawsuit from BiT Global Digital, accusing it of market manipulation by delisting Wrapped Bitcoin to favor its own product, Coinbase Wrapped Bitcoin. Meanwhile, Kraken Australia has been fined $5.1 million for regulatory breaches, including operating without a license. In Vancouver, the city council has approved a motion to explore Bitcoin integration into its financial operations, aiming to become a "Bitcoin-friendly city."
FTX's reorganization plan, effective January 3, 2025, will enable the repayment of 98% of users approximately 119% of their claimed account value. Kraken and BitGo will assist in distributing the initial recovery funds, with repayments expected within 60 days of the effective date. Additional details regarding other customer groups awaiting repayments will be announced later.
FTX will commence creditor distributions on January 3, 2025, following court approval of its Chapter 11 reorganization plan. Approximately 98% of creditors are set to receive at least 118% of their claim value, with initial payments targeting specific groups within 60 days of the effective date. BitGo and Kraken will manage the distribution process, while KYC verification and tax form submission are required for creditors to access their funds.
FTX plans to start repaying customers and creditors in early 2025, following the approval of its reorganization plan effective January 3, 2025. The initial repayments will be distributed within 60 days, facilitated by Kraken and BitGo, with customers required to complete KYC verification and tax forms.
JetBolt is rapidly gaining traction in the crypto space, with over 190 million tokens sold during its presale, thanks to its innovative zero-gas technology. Meanwhile, established cryptocurrencies like Solana, Ethereum, and Kaspa are working to recover from recent market downturns, each showcasing unique strengths and potential for growth. As the market evolves, the competition among these altcoins could lead to unexpected developments.
Solana (SOL) is currently stabilizing above $215 but faces resistance near $225 and $228. A successful break above $230 could lead to further gains, while failure to surpass $228 may trigger a decline towards $215 and potentially $205. Key support levels are at $220 and $215, with major resistance at $228 and $230.
Solana (SOL) is currently stabilizing above the $215 level, attempting to recover losses while facing resistance near $225 and $228. A successful break above $230 could lead to further gains, while failure to surpass $228 may trigger a decline towards $215 or lower. Key support levels are at $220 and $215, with major resistance at $228 and $230.
Solana (SOL) is currently stabilizing above the $215 mark, attempting to recover losses while facing resistance near $225 and $228. A successful break above $230 could lead to further gains, potentially reaching $250, but failure to surpass $228 may trigger a decline towards $205. Key support levels are at $220 and $215.
XRP price is currently consolidating after a correction from the $2.50 zone, trading above $2.350 and the 100-hourly Simple Moving Average. A bullish trend line supports the price at $2.380, while resistance is noted at $2.465 and $2.50. If XRP fails to break these resistance levels, it may decline towards $2.280.
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