Jun 18, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as FTX victims asked a New York court to rule that the crypto exchange's forfeited assets belong to its customers, not the bankruptcy estate.

Video transcript

FTX victims claim the bankruptcy process is a second act of Theft and poly market bets bet on a presidential handshake. You're watching coin desk daily. I'm your host, Jen Sani ftx Victims asked the New York Court to rule that the crypto exchanges around $8 billion in forfeited assets belong to its customers and not the bankruptcy estate. Last month, the estate proposed a new reorganization plan that would see 98% of creditors get 100 and 18% of their claims back in cash within 60 days of court approve the plan irked many FTX customers who had missed out on the opportunity to profit from the run up in crypto prices while their funds were stuck in bankruptcy limbo. The victims attorneys said in the filing that the bankruptcy process has left FTX customers feeling aggrieved and robbed many of whom view the bankruptcy process as a second act of theft A I related coins like fetch A I render and Tao have seen their market value slide as much as 30% in the past seven days. That's according to coin gecko. This as Google trends shows a peak in public interest in A I spikes in crypto related Google search queries have historically occurred at major market tops. Google trends is wide. We used to gauge general or retail investor interest in trending topics. It shows the value for the search query A I over the past 12 months reached a peak of 100 last week. That's the same as the value of the past five years. A score of 100 represents peak popularity. The maximum number of searches observed for the query during a given time frame and the 1st 2024 presidential debate is scheduled for June 27th and bettors are putting their money on whether Biden and Trump will shake hands at the event as a gesture of civility and mutual respect. The handshake between candidates has been the first and last scene of presidential debates for the last four days but betters on poly market doubt there will be one during the upcoming debate. Next Thursday results show that there's only a 32% likelihood for a handshake to happen. That's a wrap for coin desk daily. Get more updates on coindesk.com and we'll see you next time.

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