Businesses Continue to Push for More - Explaining Why the Decline is Short-term
In the world of finance, the third consecutive day has seen a mixed performance from Exchange-Traded Funds (ETFs). Despite this volatility, the broader market continues to exhibit resilience, with corporate and institutional buying persisting even in the face of market weakness.
Meanwhile, the digital asset sector is witnessing a correction, with altcoins leading the charge. Among the hardest hit is Solana, which has seen significant losses in recent days.
However, there's some positive news for FTX users. The FTX Recovery Trust, which took over the operations of the bankrupt crypto exchange, has made a significant repayment of $1.6 billion to its creditors. This repayment, distributed via crypto exchanges Bitgo, Kraken, and payment platform Payoneer, covers 78% to 120% of the original holdings from November 2022.
For those who are subscribed to our premium services, recent reports do not specify any banks or institutions that have acquired FTX loans in the last few days. Nevertheless, this significant repayment is a positive step towards restoring trust and confidence in the FTX ecosystem.
Looking ahead, FTX has announced that it will resume creditor repayments on September 30, providing further reassurance to its users and investors. As always, we will continue to monitor the situation closely and bring you the latest updates as they become available.
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