Official announcements from FTX or legal filings confirming the percentage of claims paid

Judge Dorsey Approves FTX's $16 Billion Plan; 98% of Creditors to Receive 119%

Oct 7, 2024, 07:33 PM

On Monday, U.S. Judge John Dorsey approved FTX's bankruptcy reorganization plan, allowing the collapsed cryptocurrency exchange to repay customers whose assets were locked on the platform since its 2022 collapse. The plan enables FTX to distribute up to $16 billion in recovered assets to customers in cash, with interest. Approximately 98% of creditors voted in favor of the plan, and most will receive about 119% of their allowed claims within 60 days after the plan's effective date. The approval also paves the way for the possible return of $1 billion in seized assets to shareholders. This marks a significant step in resolving the lengthy legal proceedings following FTX's collapse.