A US Judge John Dorsey has approved the FTX’s bankruptcy plans bringing to an end proceedings, two years after the exchange collapsed over alleged misconduct and fraudulent activities.
During a Monday hearing, Judge Dorsey decided to approve the reconstruction plan paving the&nbsp;way for the redistribution of funds to creditors.
According to the plan, 98% of the creditors are expected to receive at least 118% of their claim values in cash.
Despite the approvals, the plan also received a fair share of criticism from a representative of exchange’s largest creditor group known as Sunil Kavuri.
This is a developing story.

US judge approves FTX’s repayment plan

Cryptopolitan_News

Other articles published on Oct 7, 2024

Cybro Surges to $3M Thanks to Bonus Program Boost—Aptos Rises as Ethereum Struggles With Volatility

Tim Draper Critiques SEC’s Approach to Bitcoin

PayPal Opens Cryptocurrency Market to U.S. Business Accounts

Robinhood Chief Legal Officer Now Leading Candidate to Lead SEC If Trump Wins

Memecoin prices soar as Crypto All-Stars hits $2m in presale

Lamborghini to Unveil Web3 Platform "Fast ForWorld" With Animoca Brands

Join our free newsletter for daily crypto updates!