FTX Bankruptcy Plan Promises Creditors 118% Return in Cash with New Proposal
Wednesday, 8 May 2024, 02:49
FTX Bankruptcy Plan Overview
The bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that promises to return 118% in cash to the majority of its creditors within 60 days of court approval.
Key Points:
- Return Rate: Creditors stand to receive 118% of their claims in cash.
- Approval Timeline: Timeline for the return is set at 60 days post-court approval.
This new plan is outlined in documents filed on Tuesday, offering hope to nearly all creditors of FTX.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.