The FTX saga has entered yet another chapter since the exchange collapsed nearly three years ago. The company has begun repaying an estimated $1.2B to its first wave of former FTX users.
The news could have a significant impact not only on the users but on the entire crypto industry as well. Meme coins with utility such as Best Wallet Token are poised to become one of the biggest beneficiaries, as we’ll discuss further in this article.
First, let’s talk about the FTX repayments.
Repayments Begin, Possibly More on the Way
Starting February 18 at 3:00 pm UTC, the exchange has repaid the first batch of over 1,500 former FTX users. This group covers those owed $50K or less.
While the repayment is already an eye-watering amount, it’s still a drop in the bucket compared to the total payouts FTX may have to settle. This could balloon to over $16B if all users file claims.
FTX’ ..
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