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Experts are bullish on crypto, with Bitcoin price hovering above $62k and likely to bounce post its recent halving. The outlook is also bullish for altcoins despite negative SEC related news.

As FTX reveals plans that could see creditors receive repayments of 118%, is the KangaMoon (KANG) one of the tokens to buy?

The bankruptcy estate of collapsed crypto exchange FTX has made a huge announcement.

According to details, 98% of creditors are poised to get a cash payout of 118% on their respective claims. While not as much when compared to where prices stand today after the bullish flip seen in 2024, the reorganization plan’s bid represents a key departure from previously announced offers.

These payments could be accessible to users within 60 days after the plan receives a court approval. Notably, only creditor claims of $50,000 or less are earmarked for this plan, according to a press release.

Per the details in the May 7 announcement, the plan could see creditor returns of up to $16.3 billion. 

“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” John J. Ray III, CEO and chief restructuring officer of FTX, said.

Amid plans to return value to customers of the failed exchange, the FTX bankruptcy team has sold multiple tokens amid the plans to reimburse creditors following FTX’s implosion in 2022.

KangaMoon is a new crypto project that looks to fuse meme coins with GameFi and SocialFi. That alone makes it more than a meme coin.

Also, unlike most other meme inspired projects, the native token KANG offers real utility.

In the community-driven environment that KangaMoon offers, KANG plays the role of an in-game currency. With it, holders can unlock rare NFTs or bet on epic battles within the P2E ecosystem.

There’s that unique incentive system that no other presale offers – the chance to earn KANG by participating in exclusive challenges and contests. The rewards are available right from this presale phase, making this an exciting project for gem hunters.

So, while a meme coin, KangaMoon taps into the resurging P2E gaming market and SocialFi trend to add a unique layer that strengthens KANG utility.

It’s likely a last chance saloon for investors looking to tap into the potential crypto resurgence via the new token KangaMoon (KANG). Why is this the case?

As previously highlighted, KangaMoon has successfully navigated through its presale stages and currently sits on the cusp of a swift sale in stage 5. After sailing through the first four stages, KANG token’s public sale phase has hit over 93% sold out as of writing.

Investor interest is still rising, with the total amount raised surpassing $6.4 million. But the opportunity to buy KANG remains open at $0.0196 per token and with a 10% bonus available on all purchases.

To learn more or to buy KANG, visit the official website.

The post FTX plans 118% repayment for creditors; Is KangaMoon worth a look? appeared first on Invezz

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