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FTX Bankruptcy Court Greenlights Fund Distribution as 94% of Creditors Support Reorganization Plan
The post FTX Bankruptcy Court Greenlights Fund Distribution as 94% of Creditors Support Reorganization Plan appeared on BitcoinEthereumNews.com. According to recent updates from COINOTAG, a pivotal moment occurred on October 8 as a judge ratified the **FTX** cryptocurrency trading platform’s **reorganization plan**. This judicial decision initiates the critical process of fund distribution to creditors. Notably, the reorganization plan garnered overwhelming support, with **94.48%** of stakeholders in the “**dotcom customer rights claims**” category endorsing it during a vote. Under the stipulations of FTX’s **bankruptcy proceedings**, nearly **98%** of claimants are projected to receive a minimum of **118%** of their claim values in cash. It is crucial to highlight that these claims were evaluated based on the prices of the respective **cryptocurrencies** at the time, reflecting the market’s volatility and the underlying value of digital assets. This development marks a significant step toward restoring creditor confidence in the **cryptocurrency market**. Source: https://en.coinotag.com/breakingnews/ftx-bankruptcy-court-greenlights-fund-distribution-as-94-of-creditors-support-reorganization-plan/
The post FTX Bankruptcy Court Greenlights Fund Distribution as 94% of Creditors Support Reorganization Plan appeared on BitcoinEthereumNews.com.
According to recent updates from COINOTAG, a pivotal moment occurred on October 8 as a judge ratified the **FTX** cryptocurrency trading platform’s **reorganization plan**. This judicial decision initiates the critical process of fund distribution to creditors. Notably, the reorganization plan garnered overwhelming support, with **94.48%** of stakeholders in the “**dotcom customer rights claims**” category endorsing it during a vote. Under the stipulations of FTX’s **bankruptcy proceedings**, nearly **98%** of claimants are projected to receive a minimum of **118%** of their claim values in cash. It is crucial to highlight that these claims were evaluated based on the prices of the respective **cryptocurrencies** at the time, reflecting the market’s volatility and the underlying value of digital assets. This development marks a significant step toward restoring creditor confidence in the **cryptocurrency market**. Source: https://en.coinotag.com/breakingnews/ftx-bankruptcy-court-greenlights-fund-distribution-as-94-of-creditors-support-reorganization-plan/
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