ftx bankruptcy
FTX revealed its reorganization plan in May and said it planned to give 98% of its creditors at least 118% of allowed claims. Creditors with allowed claims below $50,000 will be eligible for the 118% compensation upon court approval, according to the plan.
Some, including those representing FTX's largest creditor group, have opposed the plan and said the estate should pay out cryptocurrencies in-kind rather than the dollar value when the exchange filed for bankruptcy in November 2022. |
