CryptoWatch: FTX to Return $12B, Arkham Intelligence's Crypto Derivatives, CornBattles Game

The bankrupted and defunct FTX will soon begin its process to return the money it owes customers and creditors after over two years since the funds went missing, and it is leading this week's edition of CryptoWatch. It is also joined by the rising star, Arkham Intelligence, a company backed by OpenAI's Sam Altman, which will launch its first crypto derivatives amidst its move to the Caribbean islands.

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Lastly, a new cryptocurrency game is on the rise, known as "CornBattles," which combines humor and tactical gameplay in one, capturing yet another wave of blockchain-based games in the market.

FTX Set to Return $12B to Creditors That Will Help Crypto

FTX recently received the court-approved payout plan for the company, as they are ready to return a whopping $12 billion worth of assets to its creditors which the previous management defrauded. The initial payout will take place as early as this December, but the company will release the funds gradually to investors, starting with $1 billion of the previously missing money.

Throughout the coming months and years, FTX will try to complete the money's return worth a total of $12.6 billion after Sam Bankman-Fried's reallocation of the money from Alameda Research for personal gains.

According to Bloomberg, the crypto industry is taking this as a good sign, as it can help boost its performance in the market, as well as Bitcoin liquidity, after facing struggles and seeing over $12 billion going missing when FTX crashed.

Arkham Intelligence is Launching its Crypto Derivatives

The young crypto startup known as Arkham Intelligence is now branching out of its blockchain data services by offering a "high-risk, high-reward" financial instrument known as crypto derivatives. The company revealed that starting next month, Arkham Intelligence's new products will be available for investors to grow their blockchain-based assets and compete with larger crypto exchange platforms worldwide.

According to the report, people familiar with the latest product revealed that Arkham is on the verge of introducing crypto derivatives to investors, expanding more of what the Sam Altman-backed startup has to offer.

With this, Arkham Intelligence also made a strategic move to Punta Cana, Dominican Republic after its years-long operations in New York and London, taking advantage of the country's free-trade zone (FTZ) benefits.

'CornBattles' Brings a New Crypto Game Craze

There is a new crypto game on the rise, and it was made on the web3, with "CornBattles" introducing a new quirky experience that heavily banks on the "play-to-earn" experience like the titles that came before it. This new game offers a quirky play style that combines tactical gameplay, auto battler features, comedic experiences, and a collectible card game (CCG) experience in one.

"CornBattles" allows gamers to earn real-world rewards as it translates to the Telegram Open Network coin (TON coin) that may be exchanged for legal tenders. The developers behind the new game are also looking to introduce a way to convert the game's hero cards into non-fungible tokens (NFTs) for future investment opportunities.

At present, "CornBattles" amassed a total of three million users, and the community is thriving because of regular updates and events.