FTX will not return from the dead, as plans to relaunch the disgraced exchange have been nixed. Many defrauded investors were happy to hear the news of FTX’s eternal demise, and are pleased that the company has finally clawed back over $7 billion in assets. But as always, the story is a little more nuanced, and creditors may end up getting the short end of the stick yet again.
In other exciting news for existing crypto holders, a massive wave of liquidity will likely be re-injected into markets soon. These creditors are already putting together their lists of the top 10 cryptos to buy now, and increasingly more sophisticated investors eye Galaxy Fox ($GFOX)– the top ICO opportunity for 2024.
FTX Kills Relaunch Plans: Winners & Losers
FTX has scrapped plans to relaunch, which is probably for the best considering the enormous reputational damage caused by Bankman’s $10 billion fraud. Not only did the incident irrevocably damage the exchange, but crypto as a whole. To date, roughly $7 billion in assets has been recovered to pay creditors, but many are disappointed with the outcome. Creditors will receive dollar settlements for the dollar amount of their assets at November prices. Note the discrepancy between $16,000 (where Bitcoin ($BTC) traded in November) and today’s price of $42,000. Not a great result for creditors, but certainly better than nothing.
On the other side of this payout are existing digital asset holders who will likely enjoy their net worth surging as this capital is deployed again in markets. Sam Bankman-Fried was sentenced, and this whole FTX fraud is something the crypto space will be pleased to see in the rearview.
Galaxy Fox ($GFOX) 2024’s Hottest ICO
Galaxy Fox has rapidly become 2024’s hottest ICO, and its place among the top 10 cryptos to buy now is well deserved. This nascent meme/ P2E hybrid has introduced an entirely new model blending entertainment, earning, and virality. But why is $GFOX the top crypto to invest in this cycle?
Narrative trades will be enormous this year. Galaxy Fox’s Web3 runner game locates it squarely in the GameFi narrative, and the memecoin exterior puts it in the memecoin arena- 2024’s fastest-growing vertical.
Its provision of passive income directly through its staking program and indirectly through its token burn are also turning heads. The largest inflows into this presale, which has raised over $3.2 million to date, have been wallets dubbed smart money. These investors know that once payouts materialize, demand for $GFOX will shoot up, and because the token burn reduces the supply, there will be a price squeeze.
Additionally, the ecosystem features an NFT collection, a growth-orientated Treasury, real-world merchandise, and an NFT marketplace. Many P2E projects in the peak of 2021 were shooting towards the top ten cryptocurrencies and commanded multi-billion dollar valuations. Can Galaxy Fox replicate this success? Its early momentum in presale funding indicates that investors are betting big on exactly this.
Closing Thoughts: ICOs Ready To Print
A poor but better-than-nothing payment plan for FTX creditors will be the last of the bad news digested. The majority of this liquidity will flow back into crypto, and now that investors have missed the bear market lows, they will be chasing higher returns. Their top 10 cryptos to buy will likely be a basket of low cap altcoins.
Get ahead of this coming surge by participating in presales like $GFOX today before the repayments occur. Galaxy Fox is unique amongst ICOs and its groundbreaking new hybrid model gives it easy 100X potential. Join the journey and become an early $GFOX adopter today!
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