FTX Gains Court Approval to Poll Creditors on Cash or Crypto Payout Preferences

FTX has been granted court approval to survey its creditors on whether they prefer to receive their recovered funds in cash under the current liquidation plan or in crypto at its current market value. On June 25, Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware approved FTX’s plan to gather this feedback. Several FTX creditors have voiced displeasure with the company’s liquidation plan proposed in May. The plan suggested a 118% return for 98% of the creditors — those with claims under $50,000 — based on the U.S. dollar value of asset prices at

Source: CryptoIntelligence