{
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001122334455554433221100

FTX reorganization plan to begin in January 2025 with creditor repayments

FTX's reorganization plan will commence on January 3, 2025, prioritizing creditor repayments for claims under $50,000, which represent over 90% of all creditors. Payments, expected to recover up to 118% of claims, will be made in cash or stablecoins, facilitated by Kraken and BitGo. Eligible creditors must complete specific steps to receive distributions, following the approval of the Chapter 11 bankruptcy plan with 94% creditor support.
Crypto News Flash
Kraken Energy Corp. Scott Welker John J. Ray III Sam Bankman-Fried Show more
Finance & Economy, Press Release
13:32 17.12.2024
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