In November 2022, the collapse of FTX marked one of the most significant events in cryptocurrency history. At that time, the Biden administration loomed ominously over cryptocurrencies. Years have passed since then, and time seems to fly. Today, President Trump has effectively fostered an environment conducive to constructive regulations for cryptocurrencies. Meanwhile, FTX is now making its final restitutions. But what about the altcoin bull run?
FTX Restitutions
The FTX bankruptcy committee has made returns to various investor groups throughout the year at different intervals. Although the billions in returns were from the prices during the November collapse, leaving investors less satisfied, they are grateful for retrieving their balances from that time. However, these restitutions did not prompt a significant movement in altcoins. Throughout the year, there were other pressing agendas for the crypto world, such as tariffs, that overshadowed the FTX restitutions.
In its announcement today, FTX wrote the following:
“FTX today will distribute approximately $1.6 billion under the Third Distribution to allowed creditors in the Eligible and Ineligible Classes who completed the pre-distribution requirements as of September 30, 2025.
Eligible creditors should expect to receive their funds from their chosen distribution service provider within 1 to 3 business days starting from September 30, 2025.
FTX also reminds its customers to remain cautious of phishing emails appearing to originate from FTX and fraud sites mimicking the FTX Customer Portal.”
Today, FTT increased by 11%. However, despite the terms being clarified for restitutions, FTT, once seen at prices over $4, is now struggling to reclaim the $1 mark. Who would want to acquire the utility token of a bankrupt, or, more accurately, deceitful crypto exchange? Nonetheless, it could be perceived as a meme coin. In fact, even when the price was significantly higher, the FTX bankruptcy committee had considered this asset non-liquid, reminding investors of its potential to drop to zero. Investors who fantasized about its growth are now disappointed.
Altcoin Bull Run
DOGE has slid back to $0.26 and BNB is testing $975. As we move toward the weekend, it’s not an ideal environment for altcoins. Analyst DaanCrypto, who shared the chart showing the Total Altcoin Market Cap, mentioned that breaking the 2021 peak days ago is a good sign.
“However, we haven’t seen a real breakout yet. For this to happen, I want to see a solid weekly candle closing several percent above the all-time high of 2021.”
“The market is currently relatively slow and steady. If we witness ETH reclaim the lead and push beyond its all-time high, maintaining it, I believe the situation will shift.”
