98% of creditors receive at least 118% of allowed claims within sixty days of effectiveness, others get billions in compensation. Plan would resolve disputes with government and private stakeholders without costly and protracted litigation. FTX creditors receiving their investment back could mean massive liquidity injection into crypto markets, FTT rises a fraction. FTX exchange has shared a compensation plan for its customers and creditors.
” The plan would resolve disputes with governmental and private stakeholders without costly and protracted litigation. Subject to being finalized and approved by the Bankruptcy Court, the plan details how the exchange intends to distribute to customers and other creditors “virtually all of the assets associated with FTX at the time of its collapse in November 2022.” This means they will be compensated at 2022 crypto prices regardless of the price of the assets now.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: ABC - 🏆 471. / 51 Read more »