K33 Research, a digital asset service provider, published an analysis on FTX refunds. The report, published on Tuesday, mentioned the possibility that the payments could be positive for cryptocurrency markets.

“Cash is an advantage”

The K33 report noted that while Mt. It was noted that the payments to be made by companies such as Mt. Gox and Gemini are negative, but this is not the case for FTX:

“While Mt. Gox and Gemini creditor repayments represent a bearish overhang in the market, FTX’s cash repayment may be viewed as a bullish overhang. Both Mt. Gox and Gemini will reimburse creditors in-kind, whereas FTX has sold off assets to pay creditors in cash,”

As is well known, FTX has been selling its assets for some time to generate revenue for creditor payments. Although some FTX customers are reluctant to pay cash, the exchange’s decision is not expected to change. However, it is certain that some creditors will unite and file a class action lawsuit. These customers are demanding to be paid in cryptocurrency/tokens instead of cash due to rising cryptocurrency prices.

When will the payments be made?

After being hacked and collapsed in 2014, the Mt. Gox exchange, which was hacked and collapsed in 2014, announced that it would pay both Bitcoin and cash after years of debate and work. Depending on the payment method customers wanted, the timing of the company’s payments also changed. Mt. Gox is expected to start payments of $8.9 billion in October 2024.

The $1.7 billion payment of the Gemini exchange is scheduled to be made in June.