• FTX victims have demanded that $8 billion in seized belongings be returned to clients.
• The AI ​​token fell 30% final week, coinciding with a peak in curiosity in AI on Google Developments.
• Bettors at PolyMarket have pegged the likelihood of Biden and Trump shaking palms at a 32% price through the first 2024 presidential debate.

Victims of FTX's chapter filed a lawsuit within the U.S. District Court docket for the Southern District of New York, arguing that the corporate's $8 billion in seized belongings ought to be returned to clients reasonably than the chapter property.

The submitting comes amid ongoing debate over FTX’s proposed reorganization plan and issues over the impression that chapter proceedings might have on buyer recoveries. The chapter property just lately proposed a 60-day reorganization plan, pending court docket approval, to pay 118% of claims to 98% of collectors.

Nonetheless, many FTX clients who missed out on the chance to revenue from hovering cryptocurrency costs because of the funding restrictions are against the choice. Victims' attorneys Adam Moskowitz and David Bois argued that the chapter proceedings have left FTX clients disgruntled and that they see it as a second theft.

“FTX clients really feel 'pissed off and robbed,' and plenty of see the chapter proceedings as a 'second theft.'” The attorneys added: the “The 'FTX Chapter Property' stays a fraudulent company, similar to the corporate SBF operated.”

In keeping with the court docket submitting, FTX declared chapter through the 2022 crypto winter, throughout which digital belongings skilled a big decline, and due to this fact it might be unfair to peg compensation to clients to market costs on the time of chapter. The submitting argues that Solana and Bitcoin have appreciated considerably for the reason that chapter submitting date.

In different information, information reveals that AI tokens like Fetch.ai and Render have fallen 30% over the previous week. Google Developments information suggests that is doubtless attributable to a peak in public curiosity in AI. Traditionally, spikes in crypto-related Google searches coincide with main market peaks. Final week, AI search queries peaked at 100, matching the best stage noticed up to now 5 years.

In the meantime, with the primary 2024 presidential debate scheduled for June 27, bettors on PolyMarket are betting on a handshake between President Biden and former President Trump. Present betting outcomes give the handshake only a 32% probability of occurring.