FTX to begin distributing $1.2B to creditors after Trump inauguration

FTX to begin distributing $1.2B to creditors after Trump inauguration

FTX is preparing to distribute more than $1.2 billion in repayments to the bankrupt former cryptocurrency exchange’s users.

FTX, once the world’s second-largest centralized cryptocurrency exchange (CEX), is set to begin repaying users who have been unable to access their funds for over two years.

Exchange users who are owed up to $50,000 worth of digital assets have until Jan. 20 to fulfill their repayment requirements.

FTX will likely start repaying claims of up to $50,000 after Jan. 20, according to FTX creditor Sunil, who is part of the largest group of more than 1,500 FTX creditors, the FTX Customer Ad-Hoc Committee.

“Jan 20th: FTX has given until 20th Jan to fulfill pre-distribution requirements for initial distribution. Repayments likely won’t start before then,” Sunil wrote in a Jan. 11 X post.

The Jan. 20 deadline coincides with US President-elect Donald Trump’s inauguration, which has sparked expectations of more crypto regulatory clarity and the possible acceptance of the Bitcoin Act. The act proposes creating a Bitcoin BTCtickers down$96,880 reserve for the US, the world’s largest economy.

Combined with new capital from the upcoming FTX repayments, Jan. 20 could catalyze the next leg up in the 2025 crypto market cycle, which could see Bitcoin surpass $200,000, according to some industry watchers.

Will FTX repayments lead to crypto market volatility?

Users claiming up to $50,000 are the first group of investors to receive repayments, according to FTX’s restructuring plan, which was approved in October 2024. The plan stated that 98% of FTX users could expect to be paid 119% of the declared value of their funds.

However, some creditors have criticized the repayment model, which reimburses claimants based on cryptocurrency prices at the time of bankruptcy. Bitcoin prices, for example, have increased by more than 370% since November 2022.

While some crypto investors expect heightened market volatility, the FTX repayments are crucial for rectifying past damages and repairing the industry’s reputation.

The repayments will lead to mixed investor reactions, depending on individual risk appetite, according to Anndy Lian, author and intergovernmental blockchain expert.

Lian told Cointelegraph that some of the repayments may flow back into other cryptocurrencies:

“Smaller investors, who’ve been hit hard by FTX’s collapse, might be more inclined to sell for financial security. Those with a bit more faith in the long-term prospects of crypto might stick it out, betting on future growth. It’s all about individual circumstances and risk appetite.”

“The MT. Gox scenario does set a precedent, where a lot of folks chose to hold onto their coins hoping for better days,” Lian added.

Most Mt. Gox creditors have opted to hold their BTC despite Bitcoin’s over 8,500% value appreciating in the 10 years since the Japanese exchange collapsed.

On July 30, Mt. Gox completed 41.5% of its Bitcoin distribution to creditors, who received a total of 59,000 Bitcoin.

Despite receiving nearly $4 billion worth of Bitcoin, the Mt. Gox creditors weren’t sellingaccording to a July 29 Glassnode report, which stated:

“Creditors opted to receive BTC, rather than fiat, which was new in Japanese bankruptcy law […] As such, it is relatively likely that only a subset of these distributed coins will be truly sold onto the market.”

The incoming $1.2 billion could be a “significant liquidity event for crypto,” according to Philipp Zentner, co-founder and CEO of LI.FI protocol. He told Cointelegraph:

“Overall it’s a macro-positive moment for the industry, particularly given the favorable current market conditions, also prices right now feel like a ‘Black Friday’ sale for crypto.”

Crypto firms BitGo and Kraken announced in December that they would assist in distributing recoveries to FTX users. Assuming all users file complete claims, the exchange could be expected to pay out roughly $16 billion.

 

Source: https://cointelegraph.com/news/ftx-distribute-1-2-b-trump-inauguration

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Bitcoin’s US$100K Rally: Southeast Asia’s growing crypto revolution

Bitcoin’s US$100K Rally: Southeast Asia’s growing crypto revolution

It’s a milestone that’s been on global cryptocurrency enthusiasts’ minds for many years. Bitcoin’s recent rally to a value of US$100,000 has helped uncover Southeast Asia’s sky-high enthusiasm for crypto adoption and development.

The scale of Bitcoin’s ongoing rally is the topic of much debate, but its resonance in Asian economies appears assured regardless of the direction that the coin takes in the months ahead.

According to the 2024 Global Crypto Adoption Index, Central & Southern Asia and Oceania (CSAO) lead the world in crypto adoption with seven of the top 20 most active nations for both centralised and decentralised finance (DeFi) protocols.

At the forefront of this growth was Indonesia, which surpassed US$30 billion (IDR 475.13 trillion) in cryptocurrency transactions between January and October 2024, representing a growth of 352.89 per cent in comparison to the same period in 2023.

However, we’re also seeing widespread change at an institutional level, which could see significant growth in the number of cryptocurrency use cases in 2025 and beyond throughout the region. With interest in crypto reaching new levels in Southeast Asia, Bitcoin is becoming more accessible than ever before.

Proliferation of crypto services

Bitcoin’s recent growth has brought a series of watershed moments for Asian adoption of crypto. In November, ZA Bank, Hong Kong’s first and largest digital bank, became the continent’s first institution to offer cryptocurrency trading services directly to retail investors.

With ZA Bank’s app, it’s possible for users to frictionlessly trade cryptoucrrencies like Bitcoin and Ethereum without the need for switching platforms in the process.

In November 2024, Japanese firm AEON announced the launch of a QR code payment system on Binance’s BNB Chain with Terminus, helping to scale crypto payment accessibility in Southeast Asia.

The tools are intended to make cryptocurrency payments a seamless experience for users and merchants, and the initiative could help leverage more offline cryptocurrency payments throughout the region.

Cryptocurrency payments have been identified as a leading payment trend due to their flexibility and security qualities, and opening the door to making purchases with coins like Bitcoin represents a major step toward acceptance.

Embracing AI and cryptocurrency: Is Hong Kong too ambitious?

Focused on leveraging Bitcoin as a primary reserve asset to optimise financial strategies and drive stakeholder value, Sora Ventures has launched a US$150 million fund to grow Bitcoin-focused investment strategies among listed companies throughout Asia.

Targeting companies listed on major stock exchanges throughout Japan, Hong Kong, Thailand, Taiwan, and South Korea, the move is a conscious effort to replicate the success of MicroStrategy’s Bitcoin reserve model in the United States.

In the month following the US Presidential election which saw both Wall Street and cryptocurrency markets embark on a rally off the back of Donald Trump’s victory, Bitcoin’s 30% growth eclipsed the 14 per cent experienced by the Roundhill Magnificent Seven ETF (MAGS), an exchange-traded fund that focuses on Wall Street’s seven largest companies by market capitalisation.

The expansion of investment options for Southeast Asia’s largest firms can open the door to better-managed growth, and the ability to embrace the historical outperformance of cryptocurrencies like Bitcoin fully.

The world’s developer capital

It’s also important to highlight Southeast Asia’s invaluable role among crypto developers, with the continent surpassing North America in recent years to attain a strong market share.

Since 2015, Asia’s share of global cryptocurrency developers has rallied from just 13 per cent to 32 per cent, while North America’s market share fell from 44 per cent to 25 per cent over the same period.

While India has been a driving force in Asia’s newfound crypto dominance, nations like China, Japan, Hong Kong, and Singapore have all helped to build a conducive infrastructure for crypto developers.

According to Singapore-based fund manager, Anndy Lian, the emerging markets of India and Southeast Asia where traditional banking infrastructure can be less accessible, cryptocurrencies like Bitcoin have helped to democratise financial services to residents.

It’s this necessity for innovation that appears to be positioning Southeast Asia at the forefront of crypto innovation, and the benefits are being reaped by retail investors and institutions alike.

According to a recent National Thailand report, nations like Thailand, Indonesia, and the Philippines possess high smartphone penetration rates, making cryptocurrency far more accessible during its ongoing market rally. As a result, we could see far more sustained adoption rates for crypto and DeFi services developed locally.

Challenges remain

Despite clear indications that Southeast Asia is embracing the ongoing cryptocurrency rally more enthusiastically than ever before, a number of challenges remain.

Cryptocurrency is famously volatile and open to exploitation among unwitting users. With Bitcoin’s historical bull runs giving way to substantial losses, both retail and institutional adopters will need to be wary of buying into crypto.

 

Source: https://e27.co/southeast-asia-leads-world-in-crypto-adoption-as-bitcoins-us100000-rally-presents-new-opportunities-and-challenges-20250103/

 

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Crypto Investing secrets with Anndy Lian- By Full Value Dan

Crypto Investing secrets with Anndy Lian- By Full Value Dan

In a recent interview, Anndy Lian, a prominent figure in the cryptocurrency world, shared his journey, insights, and vision for the future of blockchain and decentralized technologies. Anndy, an early advocate for crypto, is a fund manager and best-selling author who has been deeply involved in the crypto space since 2013. His work spans advising governments, managing investments, and fostering community-driven projects. The conversation, hosted by Dan, a crypto content creator, explored Anndy’s current projects, his thoughts on the future of crypto, and his advice for those entering the space.


A Multi-Faceted Role in the Crypto Ecosystem

Anndy Lian is a man of many roles in the crypto world. As a fund manager, he actively invests in promising blockchain projects, while as an author, he educates the public on the potential of decentralized technologies. He is currently working on his third book, which focuses on Web4—a concept that emphasizes decentralization and artificial intelligence. “Web4 is about taking decentralization to the next level, integrating AI to create a more efficient and autonomous ecosystem,” he explained.

In addition to his writing, Anndy plays a significant role in advising governments on how to adopt and regulate blockchain technology. He works closely with the government of Mongolia, helping them digitize processes and draft crypto regulations. “Different governments have different needs,” he said, emphasizing the importance of tailoring solutions to specific contexts. Beyond Mongolia, Anndy is currently advising four other countries, three of which are in Europe. “They’re trying to catch up,” he noted, highlighting the growing interest in crypto-friendly legislation.


The Role of Community in Crypto

A recurring theme in Anndy’s insights is the importance of community in the crypto space. Reflecting on the rise of meme coins like Dogecoin and Shiba Inu, he remarked, “Crypto is really about community. Meme coins can be one of the best drivers.” He praised the developers and advocates behind these projects for building strong, vocal communities that onboard new users and make the space exciting.

Anndy’s personal investment strategy also revolves around community. “I look at community engagement levels and volume as key metrics,” he said. For him, the technology behind a project is often secondary to the strength of its community. “Whether it’s on Solana or Tron, the tech is similar. Community makes the biggest difference.”


Philanthropy and the “Redecentralise” Movement

Anndy is also passionate about using crypto for good. Over the past five years, he has been actively involved in donations, focusing on causes like elderly care and children’s welfare. He is now spearheading a movement called “Redecentralise”, which aims to promote decentralization while channeling donations to shelters, disaster relief efforts, and other charitable causes. “Crypto can be very fast, and donation is one of its core utilities,” he said, citing a recent campaign that raised over $200,000 for hurricane relief in the U.S.

The “Redecentralise” movement is designed to encourage people to use blockchain technology for social good. “If people want to donate tokens, they can do so directly to the movement. We then use those funds to support causes like animal shelters, disaster relief, and more,” he explained. Anndy believes this approach not only highlights the utility of crypto but also helps build trust and credibility in the space. “It’s not about showing off donations with banners or photos. It’s about making a real impact.”


Advice for New Investors

As an experienced investor, Anndy shared valuable advice for newcomers to the crypto space. One of his key messages was to avoid greed. “The biggest problem with retail investors is that they are greedy,” he said. He urged investors to sell when they see profits rather than holding out for unrealistic gains. “If you’re a novice and just want to make some coffee money, sell. Don’t wait for the price to double or triple.”

He also emphasized the importance of research and community engagement. “Before putting your money in, spend time in the project’s community. Are they real or bots? Is the volume substantial and sustainable?” These interactions, he explained, can provide critical insights into a project’s potential.

For those just starting out, Anndy recommended avoiding brand-new projects. “Never be early. Look for projects that have been around for at least six months,” he advised. While newer projects can offer high returns, they also come with significant risks. “If you don’t know your risk appetite, stick to more established projects.”


Navigating Challenges: Spam Coins and Scams

Anndy also touched on some of the challenges he faces as a public figure in crypto. One issue is spam coins—tokens sent to his wallet without his consent. While some of these tokens have value, selling them can be problematic. To address this, he channels unwanted tokens into donations. “If you give me tokens for donations, that’s cool. It makes everyone look good,” he said.

He also warned against joining trading groups that promise quick profits. “If they’re such good traders, they don’t need your $100 subscription,” he quipped. Instead, he encouraged investors to learn trading on their own and focus on long-term growth.


The Future of Crypto: Regulation and Innovation

Looking ahead, Anndy believes that governments and institutions will play a crucial role in shaping the crypto landscape. He pointed to the U.S. as an example, where stablecoins and AI have already gained significant traction. “I strongly believe they will have their own stablecoin-like product that could rival USDT,” he predicted.

At the same time, he stressed the need for balanced regulations that foster innovation without stifling growth. “Countries that are left behind are now rushing to create crypto-friendly legislation,” he said, adding that this trend will likely accelerate as blockchain technology becomes more mainstream.


Final Thoughts

Anndy Lian’s journey from crypto advocate to thought leader is a testament to the transformative power of blockchain technology. His emphasis on community, philanthropy, and responsible investing offers a refreshing perspective in a space often dominated by hype and speculation. For those looking to navigate the complex world of crypto, his advice is clear: focus on community, do your research, and never let greed cloud your judgment.

As the interview wrapped up, Anndy left viewers with a simple yet powerful message: “Crypto is about doing good, building communities, and embracing decentralization. Let’s make it count.”

 

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