Summary
- FTX Trading and its affiliated debtors have filed an amended plan of reorganization after nearly two years of filing for Chapter 11 Bankruptcy Protection.
- Creditors will be fairly compensated, with 98% expected to receive at least 118% of their allowed claims in cash within 60 days of the plan’s action.
- FTX’s financial position is strong, as the company has accumulated significant funds to cover debts totaling between $14.5 and $16.3 billion.
- This plan represents a significant step towards FTX’s financial recovery, potentially bringing more cash into the cryptocurrency markets and boosting market trust.