SEC 'Reserves' Right To Oppose Bankrupt Crypto Exchange FTX's Plan To Pay Creditors In Stablecoins
Portfolio Pulse from Aniket Verma
The SEC may oppose FTX's plan to repay creditors using stablecoins, as the agency reserves its rights to challenge the transactions. FTX's restructuring plan aims to repay creditors more than what was owed, a rare outcome in U.S. bankruptcies.
September 03, 2024 | 8:50 am
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FTX's plan to repay creditors using stablecoins faces potential opposition from the SEC, which could impact the FTX Token (FTT) tied to the exchange. The token saw a 5% increase in the last 24 hours.
The SEC's potential opposition to FTX's repayment plan could create uncertainty around the FTX Token, affecting its price. However, the token has seen a recent price increase, indicating some market optimism.
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