Under the plan, 98% of FTX creditors will get up to 118% of their claims back — the remainder will receive all of their claims “plus billions in compensation,” says FTX.
IRS tax bill will swipe creditors of any ‘meaningful recovery,' says FTX
FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill.
Crypto exchange FTX gets nod to sell $873M of assets to repay creditors
Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC.
FTX customers could get $9B shortfall claim payout by mid-2024
A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US.
FTX creditors unimpressed with exchange’s bankruptcy exit plan
FTX’s official creditor committee said the current plan would add costs and delays to what’s already on track to be a historically expensive bankruptcy.
SBF’s inner circle received $3.2B, mainly from Alameda: Court filings
Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.