Andy (Base)

Andy (Solana)

Billion

Coin

<ul class="news-points">
 <li>FTX can now solicit creditor votes on its liquidation plan.</li>
 <li>Customers to be repaid in cash, not cryptocurrency.</li>
 <li>Dispute over repayment values based on 2022 crypto prices.</li>
</ul>
A U.S. bankruptcy court has approved FTX’s liquidation plan, paving the way for the beleaguered crypto exchange to repay customers in cash following its high-profile collapse.
This decision comes after extensive efforts by the FTX team, which has collaborated with multiple U.S. government agencies and <a href="https://www.reuters.com/legal/ftx-seeks-creditor-votes-bankruptcy-wind-down-payments-2024-06-25/" target="_blank" rel="noopener noreferrer nofollow">liquidated assets to amass funds</a>. FTX attorney Andy Dietderich stated during a court hearing:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “This has been a huge team effort. Everybody was an involuntary investor in this crazy pool of assets, and our job was to turn it into cash.”
</blockquote>
The assets recovered thus far originate from diverse sources, including investments in crypto, tech companies, venture funds, and real estate, all allegedly purchased with misappropriated customer funds. The total amount recovered to date nears $16 billion, including approximately $12 billion in cash. FTX intends to reimburse its customers in cash rather than cryptocurrencies.
However, some customers are dissatisfied with the plan and are demanding hig…
The post <a href="https://coinedition.com/ftx-bankruptcy-16-billion-recovered-cash-payments-planned-for-customers/" rel="noopener noreferrer nofollow">FTX Bankruptcy: $16 Billion Recovered, Cash Payments Planned for Customers</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

FTX Bankruptcy: $16 Billion Recovered, Cash Payments Planned for Customers

Coin Edition

在 2024年6月26日發表的其他文章

Next Cryptocurrency to Explode Wednesday, June 26 — AIOZ Network, Ethereum Name Service, OriginTr...

'Rich Dad Poor Dad' Author Robert Kiyosaki Agrees With Raoul Pal's Bitcoin 'Banana Zone' Theory: ...

Top 3 Reasons Why Shiba Inu (SHIB) Price Is Up Today

Crypto Market Recovery: Bitcoin Leads Market Upswing, Altcoins To Follow Suit?

Largest Holder of dogwifhat Buys 2.3 Million WIF

Ethereum ETF News Sparks Optimism: Shiba Inu Surges and Furrever Token Set for Growth with 50% Re...

訂閱免費電子報，每天收取加密貨幣最新動態！