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FTT

FTX Creditors to Receive $6 Billion in RepaymentsThe saga of the FTX collapse took a positive turn as creditors voted in favor of a reorganization plan that would see over $6 billion distributed to affected users. This long-awaited development marks a significant milestone for the beleaguered cryptocurrency exchange and its community, following the turmoil caused by its 2022 implosion. FTX Creditors Approve Repayment Plan FTX creditors have overwhelmingly supported the repayment plan, with a reported 94% of those in the "dot com customer entitlement claims" class voting in favor of the distribution. This indicates a unified front from users seeking to recover their losses. According to Kroll Restructuring Administration, nearly all creditor classes voted in favor of the reorganization, setting the stage for a smooth transition toward asset distribution. With the creditors' approval, the plan is now awaiting a formal confirmation hearing scheduled for October 7. Analysts believe this hearing is just a formality, as the overwhelming support makes it highly likely the plan will move forward without major obstacles. What Does This Mean for FTX Creditors? Under the terms of the plan, a total of $6.83 billion will be allocated to affected customers and creditors. Those in the "US customer entitlement claims" category are expected to receive around $60.99 million, while creditors in the "dotcom convenience claims" class will see $223.59 million in claims. Many of these users could receive up to 118% of their original claims in cash. However, it's important to note that these repayments are based on the value of their cryptocurrency holdings at the time of filing. Given the volatility of the crypto market, the actual value of the repayments may be lower than current market rates. Still, this plan represents a crucial step toward compensating victims of the FTX collapse. Timeline for Distribution The timeline for the distribution remains a hot topic among creditors. According to analyst Tom Dunleavy, payments could commence within 4 to 8 weeks, meaning users could see their funds before the end of 2024. Three "omnibus hearings" scheduled for October 22, November 20, and December 12 are key dates that will help finalize the process. This development brings much-needed relief to the crypto community, which has been grappling with the fallout from the FTX scandal for nearly two years. Fundamental Impacts on TSX:FTT The FTX Token ( TSX:FTT ) has been riding the wave of this positive news, surging 11% as the distribution plan gained approval. The token, which had been stuck in a falling trend channel since the scandal broke, is now seeing renewed interest. The recent price increase has pushed TSX:FTT above key moving averages, signaling bullish momentum. The Relative Strength Index (RSI) for TSX:FTT currently stands at 69.44, approaching overbought territory. This indicates strong buying pressure but also suggests that traders should be cautious of potential price corrections as it nears the overbought region. Fundamentally, the successful execution of the repayment plan could restore some faith in the FTX brand, which has been tarnished by the scandal. However, the long-term outlook for TSX:FTT remains uncertain, especially with former FTX executives facing legal consequences. Caroline Ellison, former Alameda Research CEO, was sentenced to two years in prison, while former FTX CEO Sam Bankman-Fried is serving a 25-year sentence. Technical Outlook for TSX:FTT From a technical standpoint, TSX:FTT 's recent rally has lifted the token above key moving averages, indicating a potential trend reversal after months of declines. However, traders should keep an eye on the RSI, as the token's rapid ascent could lead to a short-term pullback. If the bullish momentum continues, TSX:FTT could break out of its long-standing downtrend, with potential upside targets being the next resistance levels. For now, traders should remain cautious and monitor key technical indicators to gauge the strength of this recovery. Conclusion The approval of FTX's reorganization plan and the subsequent repayment of $6 billion to creditors marks a turning point for the company and its community. With TSX:FTT token gaining momentum, the road to recovery seems to be underway, although risks remain. As the timeline for distribution becomes clearer and FTX continues to address legal and financial hurdles, the future of TSX:FTT will depend on the successful execution of these plans and the restoration of trust within the cryptocurrency community. For now, all eyes are on the October 7 confirmation hearing and the upcoming repayment process, as users eagerly await the long-promised distributions.
Long
by DEXWireNews
FTT/USDT Secondary trend. Wedge. Phase 3. 05 2024Logarithm. Time frame 3 days Secondary trend. A descending wedge is being formed. Its breakthrough - reversal and price growth. Maybe another decline, take it into account in risk management. Globally, and perhaps medium urgently now acceptable prices for a position set, at least the first part of it. Preferably, on the breakout of the reversal level. Stops are very short now. Linear, without slippage of the wedge formation boundary.
Long
by SpartaBTC
6
FTT - soon 9$ I was damn right. everything is exactly as I said before, it's just a perfectly worked out setup, it's not for nothing that I changed the name of the profile to trading view and made a lot of ideas about this coin, those who believed and looked at my charts were convinced of it. I will be glad if you will comment my ideas and put a like under them. I did my best. If the idea gets 100 likes, I will make a guide on where to sell and how to understand the distribution on the ftt so that you don't miss the exit point or sell too late. Last time I predicted exactly how the asset would spread and then roll, closing a 4 buck position I was holding with 1.4$. Now my target is 9 bucks. My analysis is based on numerology, cycles and the cosmos.)
Long
by FTT_TRADER369
1
FTX - BIG NEWS - Everyone Getting Money BackMartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space. The Bull market is here FTX BIG NEWS , SETTLEMENT of funds. Even tho the bull market is here FTX has not fully mooned yet there is still time to buy on DIPS . The market has just hit a critical level . This is a bullish structure and dips are buys, when these dips happen FTX can start its move higher . This needs to be watched carefully . FTX can get very bullish with the ETH ETF launch also so we need to watch carefully This can moon Please watch the video for more information
Long
by MartyBoots
New momentum on ookiAgainst the background of attempts to restore ether to 3250-3500 before the middle of the quarter, in addition to vib, ooki also looks interesting, which has repeatedly pleased with profits. There is a fairly high probability of an impulse to open a new quarter above 0.0035. If this scenario is successfully implemented, an opportunity will open for a trend towards the 0.0050-75 range, which is the main target in the mid-range. In addition to vib and ooki, pros and cvp are currently interesting for scalping.
OLong
by Strateg_
A new opportunity for VIPAs we approach the middle of the quarter, the bulls are trying to restore the price of ether to the range of 3250-3500 to consolidate purchases for the second half of the quarter, in case it opens in this range. Against this background, from 2900-3000 on the air and 61-65.5 to the cue ball, there is a fairly high probability of a new wave of growth this week and next. Against this background, new short-term coin toppings can be made. To date, vib is showing itself very well, giving two waves of growth of 40% each, but the medium-term goals are at a retest of 0.150-175 with a high probability of going to 0.25 in the event of a breakdown by ether 3500. At the moment, the short-term bullish trend line clamps the vib price into a triangle with a key level of 0.1, if taken, we can expect a sharp increase in volatility to 0.125-150 at least, which we have already observed. If the second half of the quarter opens above 0.125, the road to growth to 0.25-50 in this quarter will open. According to vib/btc, there are signals for growth up to 10X, which makes the coin reliable for investments in the average market.
Long
by Strateg_
FTT Surges 13% on FTX Investors to Settle With Sam BankmanA group of FTX investors have filed a court document to settle with Sam Bankman-Fried, the founder and former CEO of FTX, under the condition that he provides relevant information about key firms and celebrities related to the defunct exchange before its collapse. The settlement terms include proof that Bankman-Fried's net worth is negative. If approved by the court, the agreement would discharge all claims against Bankman-Fried. According to a Bloomberg report, Bankman-Fried has agreed to cooperate with the class representatives to strengthen their case against celebrity promoters of FTX by providing confidential information about their involvement in raising FTX ratings before its eventual collapse in 2022. The list of celebrities includes Shaquille O'Neal, Stephen Curry, Lawrence Gene David, Tom Brady, Gisele Bundchen, and organizations such as MBA's Miami Heat franchises, SoftBank Group, Paradigm Operations LP, and many more. The agreement mandates that Bankman-Fried release certain documents alongside evidence of these people and organizations' involvement with FTX. He will also provide a financial statement of all his current assets and a sworn affidavit of all his financial assets, including an affidavit stating that his net worth is negative. The settlement comes after US Senator Elizabeth Warren demanded a full account of the several meetings between the head of the US Commodity & Futures Trading Commission (CFTC), Rostin Behnam, and Bankman-Fried before the FTX implosion. Bankman-Fried was convicted of wire fraud, securities fraud, and money laundering in November 2023, and on March 28, he was sentenced to 25 years in prison, with a forfeiture of $11 billion worth of assets to fund the repayment of the victims of the FTX collapse.
Long
by DEXWireNews
FTT/USDT Ready to Resume its Bullish Journey? 👀🚀 FTT Analysis💎Paradisers, keep an eye on #FTTUSDT. It’s at a key point, testing the support at $1.65. If it keeps going up, we could see a price jump. 💎The first resistance target is at $2.39 for the FTT. If the asset manages to Break this level it could lead to even bigger gains. 💎If #FTXToken starts to drop at this support level, we’re ready for a bounce back from a deeper support at $1.40. This area is known for its high trading volume and has often led to big upward moves for $FTT. 💎If the price falls below this extra support level, it could mean a shift to a bearish market, with more selling. Stay alert and flexible as we follow the changes in the #FTT market. Disclaimer : The token, #FTT, is associated with the FTX exchange. Please proceed with caution and conduct thorough research before trading.
Long
by MyCryptoParadise_Simon
FTX Founder Sam Bankman-Fried Sentenced to 25 yearsIn a shocking turn of events, cryptocurrency mogul Sam Bankman-Fried, the founder of FTX, has been handed a hefty 25-year prison sentence for charges including fraud and money laundering. The sentencing, delivered by Judge Lewis A. Kaplan in Manhattan federal court, marks a dramatic chapter in the saga of FTX's downfall. Witness testimonies during the trial painted a grim picture of FTX's inner workings, revealing a culture of risky financial practices and lax oversight. These revelations, coupled with damning evidence presented by prosecutors, led to Bankman-Fried's conviction on seven charges, sealing his fate for the next quarter-century. Prior to sentencing, Bankman-Fried offered a heartfelt apology to those affected by FTX's collapse, acknowledging the profound loss of trust and financial devastation endured by customers, investors, and employees alike. However, his apology could not sway the court from holding him accountable for his role in the debacle. The fallout from Bankman-Fried's sentencing extends far beyond the courtroom, sparking debates about the need for tighter regulatory oversight in the cryptocurrency industry. Many see this case as a cautionary tale, highlighting the potential risks inherent in unregulated financial markets. As FTX grapples with bankruptcy proceedings to recover lost funds and compensate creditors, the broader cryptocurrency community faces a reckoning. The episode serves as a stark reminder of the importance of transparency, accountability, and regulatory scrutiny in safeguarding investors and preserving trust in the digital asset landscape. But the question remains is there hope for TSX:FTT ? As regards the sentencing, the TSX:FTT token plummets by 4.72% trading below its respective moving averages. With a weak Relative Strength Index (RSI) of 45.
Short
by DEXWireNews
1
Alikze »» FTT | Completing the last corrective legIn the daily and weekly time, after a deep correction, it recovered a full movement cycle and then corrected the previous wave in the form of a double correction of 0.23 fibo. It is currently completing the microwaves, wave 2 of 3. 🔰 Therefore, I expect that no new floor will be created in the first phase. 🔰 In the second phase, this movement can continue its growth at least up to the range of 4.74. If it can break the first target, this ascending wave 3 or C will have the ability to reach the resistance targets specified on the chart. However, moving up to Fibo 1.618 can move the important supply area and the beginning of a deep correction. ⚠️ In addition, if it penetrates and stabilizes below Fibo 0.23, this movement scenario will be invalid. 🟩Sup:1.50 ⛳️Tp1 : 4.74 ⛳️Tp2 : 9.16 ⛳️Tp3 : 20.84 ⛳️Tp4 : 29.52 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
1
FTT on the Horizon: Market Analysis and ProjectionsTechnical Analysis Overview Current Price : $3.7605 Weekly Trend : A decrease of 27.10%, indicating recent bearish sentiment. 1-Month Trend : An increase of 8.98%, showing some recovery. 6-Month and Yearly Trends : Impressive growth of 289.95% and 260.09%, respectively, highlighting a strong bullish trend in the medium to long term. Advanced Technical Indicators Relative Strength Index (RSI) : Approaching overbought territory, signaling a potential reversal or consolidation in the short term. Moving Average Convergence Divergence (MACD) : Suggests a bullish crossover, indicating strong buying momentum. Chart Patterns and Analysis Bullish Triangle Pattern : Indicating a potential breakout and continuation of the uptrend. Falling Wedge Patterns : Multiple patterns suggest a diminishing selling pressure and a possible trend reversal. Unique Insights Potential for a Major Rally : Analysts have identified key levels for a potential 10x payout, suggesting that FTT might be gearing up for a significant rally. Impact of External News : News flow and external events, such as regulatory changes or developments within the FTX ecosystem, can have a substantial impact on FTT's price. Keeping an eye on these factors is crucial for understanding potential market movements. Market Sentiment and External Factors Market Capitalization : $1.234B USD. Trading Volume Analysis : High trading volume of $191.331M USD with a significant volume/market cap ratio. Recent News Coverage Impacting FTT FTX Trading and FTX Digital Markets Settlement ( PYMNTS.com ): A unified approach to valuing customer claims could impact FTT's valuation and distribution. Valuation Rules Set by FTX and Bahamas Liquidators ( Bloomberg.com ): Crucial for determining the valuation of FTT in bankruptcy proceedings. Unified Asset Distribution Deal ( CryptoSlate ): Streamlining the asset distribution process within the FTX ecosystem. FTX's Bankruptcy Exit Plan ( Banking Dive ): Involves valuing assets at their November 11, 2022, rate, affecting FTT's value. FTX's Crypto Asset Liquidation ( Watcher Guru ): The liquidation of $240 million worth of crypto assets, including FTT, could influence its market price. Conclusion FTT presents a complex picture with both short-term bearish and long-term bullish trends. The technical indicators suggest strong buying momentum, but overbought conditions signal caution. The recent news, particularly the settlement and bankruptcy proceedings, directly impacts the valuation and liquidity of FTT.
Long
by Terrapins
5
Hey Guys, Insider here.Like it or not, but history always repeats itself. Banks and goverments always will be letting you down. You're always will see more people trusting btc instead. Dollars will always go down. Even if sometimes they will go up a lil bit coz of rate hikes in 2023. Bulls always will be winning. They believe in constant evolution. This is inevitable (until it's not though) Pigs always will be driven by emotions and fears. Bears always will be crushing a party, but Bears lives are short. Scammers always will scam and get jailed. Shitcoins always will be full of shit, unless a few one. Elon Musk will never reach Mars. You're will keep working in MCD. Justin Sun will be always screwing your wife. It is what it is.
BITSTAMP:BTCUSDLong
by WagsCapital
8