The post FTX Bankruptcy Plan Approved: How Much Will Creditors Really Get Back? appeared first on Coinpedia Fintech News
The bankrupt crypto exchange, FTX has scored a major win in its recovery plan efforts. The U.S. Bankruptcy Judge John Dorsey approved its plan to repay creditors. The fallen exchange will use its recovered assets worth $16.5 billion for the repayment. FTX filed for bankruptcy two years ago and since then millions of investors were in confusion about the fate of their funds. As the court has given a green flag for the recovery plan, creditors are now looking for possibilities of getting their investments. Let’s explore what it means for an average user.
How the Repayment Plan Works
The plan will prioritize FTX’s smaller customers—those with account balances of $50,000 or less. In fact, about 98% of customers are expected to see repayment. Judge Dorsey even called the case a “model” for handling complex Chapter 11 bankruptcies. A lot of this ca
We współpracy z: https://coinpedia.org/news/ftx-bankruptcy-plan-approved-how-much-will-creditors-really-get-back/
