The majority of FTX creditors (79%) intend to reinvest their repayments in cryptocurrencies, showing continued optimism despite the exchange’s almost $9 billion collapse in 2022.
There are results of the survey conducted on Feb. 19 by NFTevening in partnership with Storible.
The survey was conducted through Prolific, an online research platform. The study’s participants were 1,016 FTX creditors who met specific criteria. They had to either have at least 10% of their portfolio consist of Solana (SOL) or have held at least $100 worth of SOL for over a year.
FTX Creditors Show Renewed Faith in Solana
Despite the turbulence caused by events such as the launch of the highly controversial Libra meme coin and the Meteora scandal, 62% of respondents said they would buy Solana with their repayments, according to the survey.
Additionally, according to the survey, 44% of creditors expressed their willingness to reinvest in Solana-based projects.
79% of FTX creditors plan to reinvest repayments in crypto. Source: NFTevening x Storible
If Solana’s price falls below $145, the majority of creditors surveyed (71%) said they would either hold or buy more SOL, signaling a strong belief in the company’s long-term growth potential. This resilience suggests that creditors remain committed to strategic reinvestment despite the ongoing financial setbacks.
Many view the downturn as an opportunity to accumulate assets at lower prices rather than exit the market altogether, the survey suggests.
While Ethereum (ETH) remains the second most preferred blockchain for reinvestment, with 31% of creditors choosing it, the BNB Chain (BNB) follows with 16%, and 9% plan to explore other ecosystems.
Investors Are Turning to Memecoins and AI Tokens
Meme coins remain a popular choice among FTX creditors, with one-third of respondents planning to invest in these speculative assets.
Beyond meme coins, AI-related cryptocurrencies are also gaining traction. The survey found that 31% of creditors are prioritizing AI-driven blockchain projects, reflecting a growing belief in artificial intelligence’s impact on the financial sector and digital assets.
Impact of FTX’s Collapse and Repayment Initiatives
The downfall of FTX and more than 130 subsidiaries in November 2022 triggered a wave of insolvencies, leading to the longest-ever crypto winter. This downturn saw Bitcoin’s price plummet to around $16,000, while Solana lost over 94% of its value, hitting a low of $9.60 in December 2022.
In a crucial step toward industry recovery, FTX’s Bahamas division honored the first batch of repayments for creditors with claims below $50,000. These users were set to receive their funds at 3:00 PM UTC on Feb. 18, with an estimated $1.2 billion in capital distributed to the initial group of defrauded FTX users.
FTX Repayments: 18 Feb 2025
Funds available from 10am ET
FTX Claims < $50k
FTX Creditors in the Bahamas process have email confirmation that repayments will start on 18 Feb 2025
9% interest per annum from 11 Nov 2022 pic.twitter.com/FrmDN4qiK7
— Sunil (FTX Creditor Champion) (@sunil_trades) February 4, 2025
The next repayment distribution is scheduled for May 30 and will cover a broader group of creditors, including customers, vendors, and trading partners.
FTX creditors must verify their claims by Apr. 11 to qualify for this second round.
FTX Distribution Dates
11 April 2025: Distribution Record Date Claims > $50k
30 May 2025: Next Distribution Date
Claims > $50K
Claims < $50k: Those claims that have been allowed and not received distribution in the 1st distribution
— Sunil (FTX Creditor Champion) (@sunil_trades) February 18, 2025
Under FTX’s recovery plan, 98% of creditors are expected to receive 118% of their claim value in cash. In May 2024, the exchange estimated the distribution’s total value to range between $14.5 billion and $16.3 billion.
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