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FTX Creditors to Receive 118% of Funds Back in Cash, Estate Reveals

May. 08, 2024.
2 min. read. Interactions

The estate managing the FTX collapse has announced plans potentially returning 118% of funds to creditors in cash, providing significant relief to those impacted by the crypto exchange's downfall.

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Sneha Ghodvaidya

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In a recent development, the estate handling the aftermath of the FTX collapse has announced a new plan that could see almost all creditors receiving 118% of their funds back in cash. This revelation comes as a significant relief to many affected by the collapse of the popular crypto exchange.

According to the estate, this new plan aims to provide swift and equitable restitution to creditors, ensuring that they are compensated for their losses as fairly as possible. The decision to offer creditors more than their initial investments reflects the estate’s commitment to prioritizing the interests of those affected by the collapse.

The announcement comes after months of uncertainty and speculation surrounding the fate of FTX creditors’ funds. The collapse of the exchange had left many investors worried about the prospect of losing their investments entirely. However, this new plan offers a glimmer of hope for those seeking to recover their losses.

Under the proposed plan, creditors will have the option to receive their funds in cash, allowing them to access their money quickly and easily. This is expected to provide much-needed relief to individuals and businesses who may have been struggling financially as a result of the collapse.

Additionally, the plan underscores the importance of transparency and accountability in the cryptocurrency industry. By providing regular updates and clear communication, the estate has been able to instill confidence in creditors and stakeholders, demonstrating its commitment to resolving the situation in a fair and timely manner.

Overall, the announcement of the new plan represents a positive step forward in the aftermath of the FTX collapse. While challenges may still lie ahead, creditors can take comfort in the fact that efforts are being made to address their concerns and ensure that they receive the restitution they deserve. As the process unfolds, stakeholders will continue to monitor developments closely, hopeful for a favorable outcome.

SOURCE: Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan

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