Zhu Su: The $16 billion allocated to FTX creditors will partially return to the market, which is a large amount of incremental funds

Odaily Odaily News: Zhu Su, co-founder of Three Arrows Capital, commented on "FTX expects to distribute $16 billion to creditors in Q4". Even if these funds cannot be fully returned to the crypto market, it is still a large number, which may imply that it will boost the market. BlockBeats previously reported that FTX will return $11-16 billion to creditors in the fourth quarter of 2024, which may provide a significant benefit to the cryptocurrency market (especially Bitcoin, SOL and Solana network cryptocurrencies). Although the specific date is unclear, FTX proposed that the distribution will be carried out within 60 days after the restructuring plan takes effect. The next hearing on the restructuring plan is scheduled for October 7. If approved, FTX will have 60 days to distribute assets to creditors, which means that the returned cash will reach the hands of previous cryptocurrency buyers sometime before December 7. A large part of this cash is likely to remain in the cryptocurrency ecosystem, and creditors will reinvest the funds in their favorite tokens or ETFs.