FTX Customers Could See Over 90% of Assets Returned by Mid-2024
The customers of bankrupt crypto exchanges FTX and FTX.US have received promising news regarding the return of their assets. A proposed settlement has been reached between FTX creditors and debtors, potentially resulting in over 90% of assets being returned to customers by the end of the second quarter of 2024.
Positive Milestone Reached in FTX Chapter 11 Case
In a significant development, FTX debtors recently announced that they have achieved a major milestone in their Chapter 11 case. This milestone was reached after extensive discussions with the unsecured creditors’ committee, a committee of non-United States customers, and class action plaintiffs regarding customer property disputes.
The proposed settlement represents a positive step forward in resolving the ongoing issues surrounding FTX’s bankruptcy. It provides hope for customers who have been eagerly awaiting the return of their assets.
While the settlement is still subject to final approval, the potential return of over 90% of assets is a promising outcome for FTX customers. The timeline for the return of these assets is expected to be by mid-2024.
As the bankruptcy proceedings continue, it is important for FTX customers to stay informed and follow any updates regarding the proposed settlement. This is a crucial time for individuals who have been impacted by the bankruptcy to understand the next steps and ensure their interests are protected.
Overall, the proposed settlement between FTX creditors and debtors brings renewed hope for the return of customer assets. If approved, it could mark a significant milestone in the resolution of the FTX bankruptcy case and provide much-needed relief for affected customers.
