FTX to Repay Creditors Another $2.2B This Month | CoinDesk Daily

0:00FTX to repay another $2.2 billion this month and Bitcoin dips after the Fed's hawkish stance. This is Coindesque Daily. I'm Jen Senassi. Discover Nexo, the premier digital wealth platform now in the U.S. Get started today at nexo.com slashcoindesk. The FTX Recovery Trust says it will distribute about $2.2 billion to creditors by the end of this month. Payments will be made in U.S. dollars through partners including Bitcoin, Kraken, and Pioneer with Recipients able to withdraw cash or convert funds into digital assets. The latest round is boosting recovery rates across multiple claim classes. Some U.S. customer claims are now reaching full recovery, while others are seeing cumulative payouts of up to 120%. Meanwhile, April 30 has been set as the record date for initial payments to preferred equity holders with those distributions expected on May 29th. The Federal Reserve held interest rates steady on Wednesday, pointing to heightened uncertainty around inflation and an oil spike tied to the Iran conflict. Following the decision,

1:03Bitcoin fell more than 3% on the day, slipping below $70,000. Risk sentiment is also weakening, with capital flowing out of altcoins and even Bitcoin into stablecoins. Bitcoin dominance has dropped to 58.7% while the market share of dollar-paged tokens like USDT and USDC has climbed. The shift suggests investors are seeking safety and dollar equivalence as the Fed's lack of clarity leaves markets increasingly sensitive to swings in oil prices. And in a boost for regulatory optimism, the SEC has approved NASDAQ's proposal to enable trading of certain tokenized securities. Under the framework eligible NASDAQ participants will be able to settle trades on chain rather than through traditional book entry systems. These tokenized shares will trade on the same order book as conventional equities at identical prices and with the same rights. With major players like NASDAQ, Kraken, and ICE, the parent company of the New York Stock Exchange building in this space tokenization of real-world assets is rapidly emerging as one of the hottest trends in traditional finance.

2:04That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. Introducing next though, the Premier Digital Wealth platform are an interest, borrow and exchange crypto all in one platform. Now in the US, with 30 days of exclusive benefits, start today at nexo.com slash coindesk.