FTX Reveals Bankruptcy Plan for Cash Repayment and FTT Token Wipeout

08/01 03:55

Cryptocurrency exchange FTX has disclosed a draft proposal for its creditor-repayment plan as part of its ongoing bankruptcy proceedings. The plan calls for the settlement of customer claims in cash and the wiping out of the exchange's digital token FTT. The proposal suggests valuing customer claims in US dollars as of the date of bankruptcy and repaying them by selling off assets tied to various parts of the business. FTX has not ruled out the possibility of rebooting an offshore exchange, according to court filings.
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