FTX Unveils Plan to Return Billions in Cash to Customers and Creditors, Ending Bankruptcy Proceedings

Benzinga 2023-12-18

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FTX, the collapsed crypto exchange, has unveiled its latest plan to return billions of dollars to customers and creditors as it seeks to end its bankruptcy proceedings. The plan would see billions in cash distributed after FTX's cryptocurrencies are liquidated. It leaves some major questions unanswered, like whether FTX will restart its exchange and how assets will be valued. FTX Founder Sam Bankman-Fried was convicted for committing a large-scale fraud that precipitated the cryptocurrency exchange's failure.

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