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Bitcoin and Solana have shown impressive gains, with Bitcoin up 138% and Solana up 101% in 2023. However, Solana's remarkable 2,000% increase since December 2022 is partly due to its recovery from a significant drop linked to the FTX collapse. While Solana excels in smart contracts and real-world applications, Bitcoin's established growth catalysts, including halving events and the rise of Bitcoin ETFs, suggest it remains a more stable long-term investment.
In 2024, the S&P 500 saw a 25% return, while Bitcoin surged 138% and Solana gained 101%. Despite Solana's impressive 2,000% rise from its low point post-FTX collapse, Bitcoin's growth catalysts, including halving events and ETF developments, suggest it remains the stronger long-term investment.
Luigi Mangione, charged with the murder of UnitedHealth Group CEO Brian Thompson, has been placed in the same Brooklyn jail as FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for his role in the crypto exchange's collapse. Additionally, hip-hop artist Sean "Diddy" Combs, facing racketeering and sex trafficking charges, is also housed at the facility and has hired one of Bankman-Fried's lawyers for his appeal.
The US government has rejected Sam Bankman-Fried's appeal to overturn his conviction related to the FTX collapse, deeming his claims of trial bias unfounded. The authorities maintained that the jury's verdict was sound and that the trial's procedures were lawful, dismissing his arguments for a retrial as lacking merit. Bankman-Fried's assertions regarding judicial bias and the overstated financial troubles of FTX were also deemed irrelevant to the case.
FTX's Chapter 11 reorganization plan will take effect on January 3, 2025, with initial payments to creditors expected within 60 days. The plan, which received strong creditor support, allows for recoveries averaging 119% of claims, with some receiving up to 140% in cash. Distribution will be facilitated by crypto custodians BitGo and Kraken, following the company's significant bankruptcy filing in late 2022 and the subsequent convictions of key executives.
FTX's reorganization plan will commence on January 3, 2025, prioritizing creditor repayments for claims under $50,000, which represent over 90% of all creditors. Payments, expected to recover up to 118% of claims, will be made in cash or stablecoins, facilitated by Kraken and BitGo. Eligible creditors must complete specific steps to receive distributions, following the approval of the Chapter 11 bankruptcy plan with 94% creditor support.
FTX has announced that its Chapter 11 reorganization plan will take effect on January 3, 2025, marking the initial distribution date for affected customers. The first distribution is expected within 60 days, with partnerships established with BitGo and Kraken to facilitate the process. FTX's native token, FTT, has seen a significant price increase, trading at $3 after a period of consolidation.
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.
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.
Dogecoin is experiencing a resurgence, recently hitting a three-year price high, fueled by broader market trends and endorsements from figures like Elon Musk. Gamers can immerse themselves in the Doge universe through various titles, including the Ethereum-based battle royale game OpenSeason, which features a custom Doge-themed biome, and the trading card game Raini: The Lords of Light, which includes Dogecoin references. Other notable games include Super Doginals, a retro-style brawler, and Decentraland, which has introduced AI-powered Doge NPCs, showcasing the meme's enduring popularity in the gaming world.
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