JUST In:
$1.75 BILLION BitGo just integrated the Bitcoin Lightning Network for 1,500 institutional clients!

Huge step for #BTC adoption. Instant, low-cost transactions incoming!

#cryptonews #LightningNetwork #bitcoin #bitgo

FTX's estate is beginning its payment plan today, though the initial distribution will be approximately $1.2 billion rather than $2.4 billion.

- Starting today, FTX will begin repayments to creditors with claims of $50,000 or less ("convenience class" creditors).
-These creditors will receive approximately 119% of their claimed amount, including principal plus interest.
- Payments must be completed within 60 days of the effective date.

Market Impact Analysis:
- Analysts estimate approximately $2.4 billion may flow back into crypto markets following the distribution
- $3.9 billion of total claims were acquired by credit funds, which typically won't reinvest in crypto assets
- 33% of remaining claims belong to sanctioned countries, individuals without KYC verification, or those unable to claim funds

Total Distribution Scope:
- Total estimated distribution will range between $14.7 billion and $16.5 billion
- BitGo and Kraken have been designated to manage initial distributions for retail and institutional customers in supported jurisdictions
- Creditors must complete KYC verification and submit tax forms through the FTX Debtors' Customer Portal to receive payments

MANY WILL INVEST IN #bitcoin 🚀

Nick Szabo, the brilliant mind behind BitGold in 1998 and a key figure in the development of Bitcoin in 2008, has never claimed to be Satoshi Nakamoto. However, many believe that deep down, he is the true architect of Bitcoin.