Former cryptocurrency exchange FTX has secured court approval for its bankruptcy plan, potentially setting aside more than $16 billion to pay creditors.
“The United States Bankruptcy Court for the District of Delaware has confirmed FTX’s Plan of Reorganization, less than two years after its historic bankruptcy filing,” the company said in an Oct. 7 statement. “Under the terms of the Plan, 98 percent of the creditors of FTX by number will receive approximately 119 percent of the amount of their allowed claims.”
