FTX situation latest progress
The cryptocurrency exchange FTX has accumulated billions of dollars of funds, exceeding customers who lost their losses in November 2022, which enables them to get full compensation after the company's bankruptcy. Additional cash will be used to pay the interest of the company's more than 2 million customers. This is a rare result, because in the United States bankruptcy, creditors can usually only get very little money.
According to the company's statement, once the sale of all assets is completed, the company will have as many as $ 16.3 billion in cash to distribute. It owes clients and other non -governmental creditors about $ 11 billion.
According to the court documents submitted by the Tuesday evening that the FTX case is dealing with the FTX case, the Fedeumi Federal Court of Fedeum, although all the debts will be repaid in full and the interest will be added, and the shareholders will not leave anything.
According to the type of debt in the case, some creditors can get up to 142%of the arrears. However, the vast majority of customers may receive 118%compensation obtained on the FTX platform on the day of chapter 11 bankruptcy.
The company is currently operated by a restructuring consultant and proposed to set up a fund to pay funds to some creditors (including creditors who borrowed FTX cryptocurrencies), otherwise these funds will flow to government regulators.
As FTX gradually enters the final stage of the bankruptcy case, payment may take several months.
The Proof of Humanity wave is coming soon!👀
In preparation, we wanted to go through some crucial consideration points.
Remember: Linea Voyage XP (LXP) are NON-TRANSFERABLE.⚠️ This means that once LXP are collected in a wallet account, they cannot be moved. It is therefore crucial to accumulate LXP in one wallet to accurately measure your contribution to the growth of the Linea network.
✴️How does POH work?
LXP can only be minted on accounts that can prove human ownership. This is done by examining your account’s historical data across multiple chains.
Users will be able to carry out POH through identity partners once the POH wave is launched.
✴️How can I ensure POH success?
If you engage with the Linea Voyage using a new account, distinguishing your activity from that of a bot will be challenging, making Proof of Humanity more complex.
We recommend designating your main account as the “primary account” for the Linea Voyage, and accumulating your Voyage XP there. This approach simplifies the POH process and offers the best user experience. 🔑
We do understand that using your primary account may not always be practical or secure. Therefore, the Linea team developed a way to bind multiple accounts on linea.build.🥳
✴️How do I bind my accounts?
On linea.build, you should be able to connect and set up your primary account, which must pass POH through the Verax registry, and then designate a series of ‘secondary accounts aka alternative accounts that you may use across activations.
Once the accounts are bound, any XP intended for your secondary accounts will be minted on your primary account.
⚠️ Before binding an account, it is important to note that binding is an irreversible action. Once a secondary account is bound, XP will automatically accumulate in your primary account and your secondary account moving forward will not collect any XP. Consider carefully before binding!
Once the accounts are bound, Voyagers are free to engage with activations using any wallet account, including accounts on embedded wallets.🔮
Looking for a step by step wallet binding tutorial? Here it is: docs.linea.build/use-mainnet/linea-xp
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