What It Means for Bitcoin and Ethereum Holders
FTX will begin repaying its Bahamian creditors on February 18, 2025, marking a significant development since its bankruptcy in 2022. Ethereum holders will receive $2,500 per ETH, while Bitcoin claims are $20,000, both at November 2022 prices.
https://twitter.com/popmetaxx/status/188931362854683675
This has caused frustration among investors, especially among Bitcoin investors, as BTC is now trading nearly $97,988, creating a huge gap between current market value and repayment amount. Meanwhile, Ethereum’s current price of $2,698 shows a smaller difference, mitigating the blow to ETH holders.
Analyst’s reaction: It’s not just the eyes
Crypto analyst @REN_GMI stressed that FTX’s goal is to return $14.7 billion to $16.5 billion, potentially paying creditors 118% of the value of its original account starting in November 2022. However, despite this huge amount, the amount of 3B expected to return to cryptocurrency is less than 3B. market. After the FTX crash, bankruptcy claims were initially sold for USD, but the value of these claims soared as more assets recovered, including gains from FTX’s VC investments such as Anthropic, SUI, SUI and SOL RALLY. Currently, the claim is exceeding its initial value in November 2022, although cryptocurrency holders may still face losses in terms of actual coins.
https://twitter.com/ren_gmi/status/1889011464952000771
Despite fears of rising liquidity and less spending negotiations, Planb in his recent polling Ask his followers if they will keep cash or buy Bitcoin on repayment. The results show that the preference for Bitcoin is very favorable, with more than 70% of respondents choosing to reinvest in BTC, reflecting the community’s confidence in the long-term potential of Bitcoin despite short-term market volatility.
Bitcoin vs. Ethereum: Who can get better transactions?
For Bitcoin holders, the repayment cap feels like a tough blow given BTC’s explosive growth since 2022. On the other hand, Ethereum holders face a more serious impact because the price difference is small. This difference inspired debate on X, where users believe that repayments should reflect current market value. Despite the controversy, FTX’s repayment process is a key step in closing the chapter that one of the biggest crashes in cryptocurrencies, although this has caused many creditors to question the fairness of the structure.
