FTX creditor representative Sunil Kavuri called against the compensation plan. He argued that debts should be paid in cryptocurrency rather than their dollar value at the time of bankruptcy. Cryptocurrency prices have surged. Losses to creditors exceeded $10 billion.…
FTX creditor representative Sunil Kavuri called against the compensation plan. He argued that debts should be paid in cryptocurrency rather than their dollar value at the time of bankruptcy. Cryptocurrency prices have surged. Losses to creditors exceeded $10 billion.…
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Crypto Markets Close Strong as Positive Developments Boost Sentiment
The crypto markets closed on a strong note today, buoyed by positive developments in the regulatory and technological spheres. The recent approval of a Bitcoin ETF by U.S. regulators has signaled a potential influx of institutional investment, opening new growth opportunities for the crypto market. Bitcoin surged to new all-time highs as a result, reinforcing positive market sentiment. Ethereum's latest network upgrade further boosted confidence, marking a significant milestone in improving the network's scalability and developer experience. Meanwhile, Ripple's partial victory in its lawsuit against the SEC has set a precedent for how digital assets may be classified, bringing optimism to XRP supporters and other crypto projects. The decentralized finance (DeFi) sector also saw continued growth, with total value locked (TVL) surpassing $100 billion, driven by the increased adoption of decentralized exchanges and lending protocols. Overall, market sentiment remained positive due to favorable regulatory developments, technological upgrades, and growing institutional interest in the crypto ecosystem.