FTX Unveils Its New Recovery Plan
The beleaguered cryptocurrency exchange, FTX, has rolled out a collaborative plan with its creditors to reimburse affected users and investors. Here are the key points:
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The beleaguered cryptocurrency exchange, FTX, has rolled out a collaborative plan with its creditors to reimburse affected users and investors.
Here are the key points:
- All assets will be divided into three categories: ftx․com, ftx․us, and a general pool.
- Approximately 90% of the available resources will be dedicated to distributing among the exchange's clients.
- Insiders, associated entities, and other such clients won't qualify for any reimbursement.
FTX emphasizes that this refined strategy aims to enhance compensation for its clients, but precise figures are not provided due to market volatility and regulatory constraints.
If the court approves this plan, each user may recover between 75-90% of their original funds.
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