Proactive Investors - Bitcoin (BTC) added more than 3% on Thursday as the world’s largest cryptocurrency sought to reclaim early-week losses.
The BTC/USD pair is now up around 4.4% week on week and is currently swapping for slightly less than $63,000.
Creditors of defunct cryptocurrency exchange FTX are set to receive their lost deposits in their entirety – plus interest – following a successful recovery campaign by chief administration officer John J. Ray III.
A reorganisation plan filed by the group’s administrators this week said 98% of creditors would receive 118% of their allowed claims in cash within 60 days after plan approval.
Total assets for distribution are estimated between $14.5 billion and $16.3 billion. FTX said creditors may receive up to 9% in backdated interest payments from the time of the exchange’s collapse.
Creditors are set to receive their claims in fiat, though some of these creditor repayments could potentially return to the cryptocurrency markets.
Ethereum (ETH), the second-largest cryptocurrency, added 2% against the US dollar o n Thursday and has remained flat at $3,025 today.
Week on week, the ETH/US pair is down around 0.35%.
Global cryptocurrency market capitalisation currently stands at $2.34 trillion, with bitcoin dominance at 53.3%.