FTX Reorganization Plan Set For January 3, Distributions To Commence Within 60 Days
Posted On December 16, 2024
FTX on Monday announced that its Chapter 11 bankruptcy reorganization plan will become effective on Jan. 3, 2025.
Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo.
The first round of distributions is expected to occur within 60 days of the plan’s effective date.
The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later, according to a press release.
Customers …
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