Just In: FTX Announces Plans For Reorganization and Creditor Repayments

Quick Summary:

The company stated that initial creditor distributions will begin within 60 days of the effective date, marking a crucial step in its efforts to resolve claims following its collapse in late 2022.

FTX, the bankrupt cryptocurrency exchange, has announced plans to repay creditors under a reorganization plan set to take effect on January 3, 2025.

Both firms have extensive experience in cryptocurrency custody and payment processing.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Crypto exchange FTX

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 18:25:28 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 207 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 24451398

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 34 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #59

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