FTX has announced that nearly all its former customers could recover nearly all their funds lost during the cryptocurrency exchange's collapse, and potentially more. According to the company's statement, 98% of its creditors are expected to receive around 118% of their allowed claims, with the rest receiving 100% plus additional interest as compensation. The reorganization plan outlined in Delaware bankruptcy court filings indicates total assets between $14.5 and $16.3 billion will be available for distribution. The plan, funded by cash on hand and various other assets, awaits court approval with distributions expected within 60 days of its finalization. This development follows the conviction of co-founder Sam Bankman-Fried for fraud, who has been sentenced to 25 years in prison.
#VeritasMedia #FTXRecovery #CryptoNews #BankruptcyCourt #Cryptocurrency #FinancialRestitution #SamBankmanFried #CryptoCollaps #InvestorNews #LegalUpdate #Chapter11 #FTXBankruptcy #CryptoMarket #CryptoInvesting #EconomicJustice #InvestorCompensation #CryptoAssets #FinancialMarkets #CryptoReorganization #BankruptcyFiling #CryptoRecovery
Opmerkingen