FTX Plans Creditor Repayments

This is a news story, published by CoinGape, that relates primarily to FTX news.

crypto trading & speculation news

For more crypto trading & speculation news, you can click here:

more crypto trading & speculation news

CoinGape news

For more news from CoinGape, you can click here:

more news from CoinGape

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like crypto trading & speculation news, you might also like this article about

bankrupt cryptocurrency exchange

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest creditor payouts news, payments news, crypto trading & speculation news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

crypto assets

CoinGape

•

Just In: FTX Announces Plans For Reorganization and Creditor Repayments

Summary

Nutrition label

71% Informative

FTX has announced plans to repay creditors under a reorganization plan set to take effect on January 3, 2025 .

Initial creditor distributions will begin within 60 days of the effective date, marking a crucial step in its efforts to resolve claims following its collapse in late 2022 .

FTX confirmed it has partnered with Kraken and BitGo to manage the distribution of funds to creditors and customers.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech