FTX Customers Could Get $9 Billion in Lost Profit Compensation by Mid-2024

A propose regulation could see creditors receive A miss to win claim of $8.9 billion For FTX.com And $166 million For FTX United States.

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Clients of bankruptcy crypto exchange FTX And FTX WE could see on 90% of assets income has them by THE END of THE second quarter of 2024 After A propose regulation was reached between FTX creditors And debtors.

On October. 17, FTX debtors said they reached A "major milestone" In their Chapter 11 case After "extensive discussions » with THE not guaranteed the creditors Committee, A Committee of non-American clients, And class action plaintiffs concerning customer property disputes.

FTX debtors deposit A notice of THE propose regulation has A Based in Delaware United States Bankruptcy Court on October. 16 (For information purposes). However, they need has submit A official deposit by Dec. 16 while searching THE courts approval.

(1/4) THE FTX Debtors to have announcement another major milestone In their chapter 11 case.

— FTX (@FTX_Officiel) October 17, 2023

Part of THE amended plan consists of THE “Deficit Claim," In which FTX debtors estimates that clients of FTX.com And FTX WE would be collectively receive 90% of assets available For distribution.

THE Miss to win Claim East estimated has be approximately $8.9 billion For FTX.com And $166 million For FTX WE. If approved by THE Bankruptcy Court, FTX waits these funds has be disbursed by THE END of THE second quarter of 2024.

John. J. Ray III, CEO And chief restructuring officer of THE FTX, was