The post The bankruptcy plan of FTX has been approved in Delaware. appeared on BitcoinEthereumNews.com.

On Monday, a United States court in Delaware approved the bankruptcy plan of the cryptocurrency platform FTX, marking a significant turning point for the customers and creditors of the failed exchange.  This decision represents a crucial step in the process of resolving the bankruptcy of FTX, one of the most well-known cases in the cryptocurrency sector, and offers the hope of substantial reimbursements for those who suffered losses in the 2022 collapse. The Delaware court has given the green light to the second amended bankruptcy plan, presented in September, after 96% of the creditors voted in favor of the plan, both in number and in amount.  The plan provides that FTX customers receive cash refunds that, in some cases, could exceed 100% of the losses suffered during the collapse of the exchange. This news has brought a breath of relief to those who were caught up in the bankruptcy and offers a rare example of substantial compensation in a bankruptcy case of this magnitude. The bankruptcy plan of FTX: a turning point for creditors in the Delaware court The bankruptcy of FTX, one of the largest in the history of criptovalute, has shaken the entire sector and highlighted the vulnerabilities of unregulated criptovalute exchanges.  However, the compensation plan approved on Monday represents a significant success for the lawyers and liquidators who have worked tirelessly to return to clients the value of their holdings. According to the lawyers of the FTX estate, clients can expect average refunds of 118% of the value of their holdings at the time of the bankruptcy, which occurred in November 2022. In some cases, creditors could receive up to 140% of their losses, an exceptional outcome in a bankruptcy context. This repayment plan has been positively received by a large part of the creditor community, many…

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Filed under: News - @ October 8, 2024 9:28 am