FTX Files Reorganization Plan to End Bankruptcy

CoinDeskPolicyPublicado em 2023-12-17Última atualização em 2023-12-18

Resumo

Asset values for creditor claims will be calculated at prices on the day FTX filed for bankruptcy in November 2022, the plan says.

The estate of the collapsed crypto enterprise FTX submitted a proposal to end bankruptcy with a Delaware court, a filing from Saturday shows.

The exchange founded by Sam Bankman-Fried imploded in November 2022 shortly after CoinDesk reported on the shaky balance sheet of the firm's trading unit, Alameda. The bankruptcy plan was expected by Dec. 16 following earlier informal proposals, which included plans to return up to 90% of creditors' funds.

11.7K

In the new proposal, creditor and customer claims are classed according to the priority the estate plans to give them, and the value of claims will be calculated based on asset prices as of the date the company filed for bankruptcy. In a separate statement, the estate said the plan was designed to "maximize and efficiently distribute value to all creditors."

Advertisement
Advertisement

As in other high-profile crypto bankruptcy cases, the plan is likely to face opposition from various creditor groups until it's approved by the court. A hearing date will be set in 2024.

Read more: FTX Plans to Return 90% of Customer Funds, but There's a Catch

Edited by Sheldon Reback.


Leituras Relacionadas

Grayscale Highly Rates an Altcoin Whose Value Has Increased 19 Times in the Past Year!

Analysts at Grayscale Research argue that the current valuation of privacy-focused cryptocurrency Zcash (ZEC) does not fully reflect its potential. They believe Zcash possesses characteristics that could challenge Bitcoin's market share in the long term. While similar to Bitcoin as a decentralized digital currency, Zcash offers enhanced financial privacy for users, a feature Grayscale sees growing in importance amid increasing AI-driven surveillance. Key advantages highlighted include Zcash's privacy technology, its adaptability to future technological progress—such as preparing for quantum computing risks—and its work on cross-chain interoperability via "intents." These features are seen as crucial for competing with Bitcoin's network effect. Despite Zcash's price surging approximately 19x over the past year, its total market capitalization remains below 1% of Bitcoin's. Grayscale views this large valuation gap as indicative of significant competitive potential in the sector, suggesting Zcash could grow its market share by expanding its technological advantages and use cases. However, the firm emphasizes that investing in Zcash carries high risk, and even if it gains market share relative to Bitcoin, continuous or linear price growth for ZEC should not be expected. This is not investment advice.

cryptonews.ruHá 1h

Grayscale Highly Rates an Altcoin Whose Value Has Increased 19 Times in the Past Year!

cryptonews.ruHá 1h

Bitcoin eyes $81K as Nvidia earnings beat boosts risk assets

Bitcoin rebounded towards $81,000, boosted by a positive reaction in risk assets following Nvidia's strong Q2 earnings beat of $96.2 billion. The move helped BTC reclaim the $80,000 level as market attention turned to an upcoming keynote speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium. Analysts noted that sell-side pressure above $82,000 appears to be weakening ahead of a major $6.58 billion Bitcoin options expiry event on Friday, which could pave the way for a cleaner path toward $85,000 if resistance is broken.

cointelegraphHá 1h

Bitcoin eyes $81K as Nvidia earnings beat boosts risk assets

cointelegraphHá 1h

Huge Surprise for Altcoin: They Bought Back All Tokens Sold by Major Investors Over the Past 9 Months

The Ethena Foundation has announced four key updates to significantly alter the $ENA token's economics and governance structure. First, the Foundation has repurchased all locked tokens from major early investors who sold any amount of $ENA over the past nine months, aiming to reduce future sell-side pressure. Second, a General Framework Agreement transfers all intellectual property rights and economic value generated by the Ethena protocol to the Foundation, to be governed by $ENA token holders, not company shareholders. Third, a "fee switch" mechanism proposal is up for vote; if approved, all net protocol revenue will be used for automatic $ENA buybacks, directly channeling earnings back into the token economy. Finally, new agreements with major investors aim to mitigate potential sell pressure from upcoming monthly venture capital token unlocks. These measures collectively seek to align protocol value with token holders and stabilize the token's supply dynamics.

cryptonews.ruHá 2h

Huge Surprise for Altcoin: They Bought Back All Tokens Sold by Major Investors Over the Past 9 Months

cryptonews.ruHá 2h

Solana Proposals Could Lead to Reduction in Staking Yields to 2.25% and Cut Emissions by $1.5 Billion

Solana is moving towards a stricter monetary model that could lead to a SOL deficit and significantly reduce staking rewards for holders. Two governance proposals drive these changes. SIMD-550, currently under vote, would double Solana's annual disinflation rate from 15% to 30%, accelerating the timeline to reach a final inflation rate of ~1.5% to the first half of 2029. The second, SIMD-553 (already approved), introduces additional token burning tied to computational units used on the network. Together, these measures could reduce SOL emission by an estimated $1.4-$1.5 billion over six years. The immediate impact would be lower staking yields, potentially falling from the current ~5.25% to approximately 4.34% in year one, 3% in year two, and 2.25% by year three. Analyst Matt Mena from 21Shares suggests inflation should be tied to economic metrics to help offset this decline. The changes also raise concerns for validator economics, with some potentially becoming unprofitable as inflation rewards decrease and voting costs may rise. However, the lower passive yield might push a significant portion of the 67.9% staked SOL into Solana's DeFi ecosystem for activities like lending and trading. This shift could boost network fee revenue to compensate for lower inflation rewards. The proposals aim to trade lower yield today for less dilution tomorrow, betting that network growth and usage will make this a worthwhile trade-off for SOL holders.

cryptonews.ruHá 2h

Solana Proposals Could Lead to Reduction in Staking Yields to 2.25% and Cut Emissions by $1.5 Billion

cryptonews.ruHá 2h

Chairman of Olympic Committee detained in Poland over crypto scandal

The Chairman of the Polish Olympic Committee, Radosław Piesiewicz, was detained in Warsaw in connection with a case involving the cryptocurrency exchange Zondacrypto. The detention was carried out on the order of the Katowice National Prosecutor's Office and the Central Bureau for Combating Cybercrime. Piesiewicz denies the allegations, claiming he never had accounts on the exchange or dealt in cryptocurrency, and links the detention to political persecution. He has led the Olympic Committee since 2023 and is also a parliamentarian for the Law and Justice party. The prosecutor's office initiated the case in April 2026 on grounds of fraud and money laundering amounting to approximately 350 million PLN (around €80 million). The investigation found the exchange was used to transfer funds abroad and cash out criminal proceeds, with clients unable to withdraw their assets. A total of 13 people are implicated, including the exchange's founder. Zondacrypto became the general sponsor of the Polish Olympic Committee and team in October 2025, with a contract lasting until 2028. In April 2026, Piesiewicz stated the committee could not terminate the agreement without incurring unaffordable penalties. The investigation revealed Piesiewicz received expensive gifts from exchange representatives, including a €40,000 watch, as well as paid trips to Monaco and Bergamo.

cryptonews.ruHá 2h

Chairman of Olympic Committee detained in Poland over crypto scandal

cryptonews.ruHá 2h

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow