儘管被美國破產法官宣布一文不值，FTT 代幣週一仍飆升

這激怒了一些投資者，因為自從交易所倒閉以來，這些資產的價值已經增加。相反，他們將收回這些資產在崩潰時的貨幣價值。

FTT, a token once touted by failed crypto exchange FTX, surged on Monday as a US bankruptcy judge declared it worthless.

FTT 是曾經被失敗的加密貨幣交易所 FTX 吹捧的代幣，由於美國破產法官宣布其一文不值，該代幣週一飆升。

The token, which was used to reward FTX customers and lower their trading fees, soared by 20.1% on Tuesday, reaching $4.60 a token.

該代幣用於獎勵 FTX 客戶並降低其交易費用，週二飆升 20.1%，每枚 4.60 美元。

This comes after Judge John Dorsey, of the US Bankruptcy Court of the District of Delaware, said during a hearing on Monday that he had “no evidence today that the value of FTT tokens would be anything other than zero.”

此前，美國特拉華州破產法院法官約翰·多西 (John Dorsey) 在周一的聽證會上表示，他「今天沒有證據表明 FTT 代幣的價值將為零」。

The judge was overruling a request from creditors who held the FTT token in their FTX accounts when the exchange collapsed.

當交易所倒閉時，法官駁回了在 FTX 帳戶中持有 FTT 代幣的債權人的請求。

That hearing, which lasted more than five hours, brought FTX’s two-year bankruptcy to a close.

這場持續了五個多小時的聽證會為 FTX 兩年的破產畫上了句號。

Judge Dorsey approved FTX’s plan to repay its creditors, with 98% of them set to receive all the money they lost, and then some. But, controversially, not all the crypto they lost.

多爾西法官批准了 FTX 償還債權人的計劃，其中 98% 的債權人將收到所有損失的資金，然後是一些。但是，有爭議的是，他們並沒有失去所有的加密貨幣。

This has left some investors fuming, as those assets have increased in value since the exchange’s collapse. Instead they’ll get the monetary value of those assets at the time of the collapse back.

這讓一些投資者感到憤怒，因為自從交易所倒閉以來，這些資產的價值已經增加。相反，他們將收回這些資產在崩潰時的貨幣價值。

FTX expects to distribute between $14.7 billion and $16.5 billion, making it “the largest and most complex bankruptcy estate asset distribution in history,” according to John Ray, the executive hired to lead the company through the bankruptcy process.

FTX 預計將分配 147 億至 165 億美元，使其成為“歷史上規模最大、最複雜的破產財產資產分配”，受聘領導該公司完成破產程序的高管約翰·雷 (John Ray) 表示。

However, crypto markets were muted on Tuesday. As of Tuesday morning London time, Bitcoin had dipped by 1.7% since just before Judge Dorsey approved the repayment plan, trading at about $62,400. It has recovered slightly since.

然而，週二加密貨幣市場表現平靜。截至倫敦時間週二上午，自多西法官批准還款計畫之前，比特幣已下跌 1.7%，交易價格約為 62,400 美元。此後略有恢復。

Meanwhile, Ethereum had dipped by 1.3%, to $2,430, and Solana — the cryptocurrency whose fortunes were most closely tied to FTX — fell by 2.1%, to $145.

同時，以太幣下跌 1.3%，至 2,430 美元，與 FTX 關係最密切的加密貨幣 Solana 下跌 2.1%，至 145 美元。

FTT, on the other hand, jumped by 20.1%, to $4.60.

另一方面，FTT 上漲 20.1%，至 4.60 美元。

Like other tokens issued by centralised exchanges, FTT granted holders certain privileges. In this case, it was lower trading fees on FTX.

與中心化交易所發行的其他代幣一樣，FTT 授予持有者一定的特權。在這種情況下，FTX 的交易費用較低。

It was initially worth about $25 a token prior to the exchange’s collapse, and hovered around $1 for a year after FTX filed for bankruptcy, occasionally spiking along with reports that Ray was considering rebooting FTX.

在交易所倒閉之前，它的價格最初約為 25 美元，在 FTX 申請破產後一年內徘徊在 1 美元左右，偶爾會隨著 Ray 考慮重啟 FTX 的報告而飆升。

Those plans have been dead for months, but FTT's value refused to go with it. Lawyers for the bankrupt exchange repeated on Monday that they had no plans to launch a new FTX, under that or any other name.

這些計劃已經擱置了幾個月，但 FTT 的價值拒絕隨之而來。這家破產交易所的律師週一重申，他們沒有計劃以該名稱或任何其他名稱推出新的 FTX。

“FTT has no fundamental value because it has no utility outside of operating the ftx.com exchange,” said Brian Glueckstein, of Sullivan and Cromwell. “There is no and there will be no restarted ftx.com exchange.”

Sullivan 和 Cromwell 的 Brian Glueckstein 表示：“FTT 沒有基本價值，因為除了運營 ftx.com 交易所之外，它沒有任何用處。” “沒有也不會重啟 ftx.com 交易所。”

Over the course of the bankruptcy proceedings, some victims have railed against the decision to repay creditors exclusively in cash, rather than the assets they held on FTX at the time of its collapse.

在破產程序過程中，一些受害者對僅以現金而非其倒閉時在 FTX 上持有的資產償還債權人的決定表示不滿。

According to FTX, some 98% of creditors will get 119% of their claims’ value. Those claims are based on the value of crypto in November 2022, when the company filed for bankruptcy and Bitcoin was trading for less than $20,000. This means creditors will miss out on the rally crypto has enjoyed since.

據 FTX 稱，約 98% 的債權人將獲得其債權價值的 119%。這些說法是基於 2022 年 11 月加密貨幣的價值，當時該公司申請破產，比特幣的交易價格不到 2 萬美元。這意味著債權人將錯過加密貨幣自此以來享受的反彈。

But FTX couldn’t pay customers in crypto because it never had that crypto, according to Steven Coverick, of Alvarez & Marsal.

但 Alvarez & Marsal 的 Steven Coverick 表示，FTX 無法以加密貨幣向客戶付款，因為它從未擁有過這種加密貨幣。

Distributing repayments in-kind “would mean the debtors would have to purchase that cryptocurrency on the open market in order to make in kind distributions,” he said.

他說，以實物方式償還債務「意味著債務人必須在公開市場上購買加密貨幣才能進行實體分配」。

FTX “would then have to go purchase billions of dollars of cryptocurrencies in those quantities which would … result in a run up in the market.”

FTX“隨後將不得不購買數十億美元的加密貨幣，這將…導致市場上漲。”

Despite the controversy surrounding in-kind payments, the vast majority of creditors supported the reorganisation in a vote earlier this year, according to court documents.

法庭文件顯示，儘管圍繞實物支付存在爭議，但絕大多數債權人在今年稍早的一次投票中支持重組。

“I want to say congratulations,” Judge Dorsey said. “This is a model case for how to deal with a very complex Chapter 11 bankruptcy.”

「我想說祝賀，」多西法官說。 “這是如何處理非常複雜的第 11 章破產的典型案例。”