There have been new developments on the FTX front, which went bankrupt in November 2022 and caused its customers to lose approximately 11 billion dollars.
Accordingly, FTX, which entered the restructuring process, claimed that its customers who lost money by selling their assets would be paid and that the excess money would remain.
According to FTX's new compensation payment plan, creditors with claims under $50,000 will receive 118% compensation.
In a new payment plan announced yesterday, FTX stated that customers whose receivables are under $50,000 will receive 118% compensation; He said that other creditors will receive full refunds and billions of dollars more in compensation in the future.
FTX CEO John J. Ray III said in the statement:
“Under the new payment plan, we are pleased to be in a position to offer some creditors payment of 100% of their claim amounts.
The plan has not yet been approved by the U.S. Bankruptcy Court.
According to the new plan, creditors with claims under $50,000 will be entitled to receive 118% compensation upon court approval. “If approved, refunds are expected to occur within 60 days of the plan's effective date.”
As it is known, former CEO and founder of FTX, Sam Bankman-Fried, who faced various accusations after the bankruptcy of the cryptocurrency exchange FTX, was found guilty of 7 crimes in March and was sentenced to 25 years in prison.
*This is not investment advice.