Bitcoin Slips as Fed Leaves Rates Unchanged; Celsius to Distribute $3B Crypto to Creditors

Bitcoin slightly down after the fed meeting and a chapter closes for FTX creditors. You're watching Coin desk daily. I'm your host, Jen Sasi Bitcoin is trading above $42,000 after the US Federal Reserve left its benchmark fed funds rate range unchanged but perhaps dented market hopes of a rate cut at its next meeting. In March, the world's largest Cryptocurrency by market cap dropped as low as $41,870 on Wednesday night and while it has ticked slowly upward, it remains short $43,000 where it started the week. Meanwhile, one of the biggest token airdrops ever on the Solana Blockchain appeared to execute largely without major issues with the chain staying upright as Jupiter started distributing roughly $700 million worth of its jupe token. That's jup to nearly a million wallets. Celsius will be shipping out more than $3 billion to its creditors as the firm's bankruptcy is officially closed, apart from the cash creditors will get a stake in the newly formed Ionic Digital Incorporated Mining Operation. About 98% of Celsius networks. Creditors signed off on the plan after 18 months in bankruptcy court. And speaking of bankruptcies, bankrupt crypto Exchange FTX expects to fully repay its customers. That's according to a court hearing, the Native Token of the Exchange F TT surged more than 11% on Wednesday in the aftermath of the news. Reuters also reports the company previously run by Sam Bateman Fried has abandoned its efforts to restart the platform due to a lack of buyers. That's it for coin desk daily. Get more updates on coindesk.com and we'll see you next time.