FTX’s first repayments are here….this is a $1.2B milestone.

For some, it’s closure. For others, it’s an insult.

Users will get paid based on 2022 bankruptcy prices, not today’s. 
That means Bitcoin claimants get cashed out at ~$16K (BTC trades near $95K rn)

The gap is brutal.

For the industry it’s a signal. 
Crypto survived its longest winter. 

FTX's collapse defined 2022. 
Its repayments could define the next wave of liquidity.

But will these funds flow back into crypto? 
Will burned investors stay on the sidelines?

Not sure. But I am certain that trust in crypto isn’t restored by repayments. 
It’s rebuilt by better systems.