- FTX's $16 billion compensation will start in March 2025. In case your declare is disputed, your cost could possibly be delayed by as much as three years.
- AI brokers unfold misinformation and precipitated confusion over FTX compensation deadlines.
- FTT token surged 5% following inaccurate AI reporting on compensation dates.
FTX's collectors accused the favored AI agent of spreading false details about FTX's future distribution of insurance coverage proceeds. On the middle of the controversy is FTX's long-awaited creditor compensation plan, which can whole greater than $16 billion and repay 1000’s of collectors who misplaced cash within the trade's collapse in November 2022. .
FTX's $16 billion compensation plan
The failed cryptocurrency trade obtained approval for a compensation plan from a US court docket in October 2024. The plan permits FTX to distribute $16.5 billion to collectors over 60 days beginning in March 2025. The defunct trade plans to finish its Chapter 11 reorganization plan by January subsequent yr.
Nevertheless, prior to now 24 hours, a number of crypto influencers and information bots, together with aixbt, reported that FTX will start repaying victims as early as January 3, 2025. This was paired with related studies by a number of different distinguished influencers, together with Ash Crypto. .
FTX Creditor Truth Verify Reimbursement Information
FTX creditor Sunil requested X to make clear the right compensation schedule and figures. Sunil stated FTX's precise money holdings are nearer to $13 billion to $14 billion. An estimated $5 billion to $7 billion of this quantity might be earmarked for enterprise capital portfolios and litigation prices (claims in dispute).
Sunil defined that pending claims are usually not processed internally and restoration may take as much as three years, relying on the authorized course of. The remaining funds, roughly $7 billion, are scheduled to be distributed beginning March 25, 2025.
Trustworthiness of AI brokers in cryptocurrencies
The incident has raised considerations in regards to the trustworthiness of AI brokers within the cryptocurrency business. These brokers, like aixbt, present information and knowledge to the cryptocurrency neighborhood on platforms like X. Nevertheless, the potential of spreading misinformation poses a threat, particularly contemplating the impression such information has on the token value.
For instance, inside minutes of aixbt's FTX put up, the worth of the FTT token soared by greater than 5%. This token additionally noticed a 100% improve in buying and selling quantity following the information. On the time of this writing, FTT was buying and selling at $3.45.
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