Jun 25, 10:49 AM

FTX Seeks Tuesday Approval for Customer Vote on Wind-Down Payments Amid Objections

FTX, the bankrupt cryptocurrency exchange, is seeking approval from a judge on Tuesday to allow its customers to vote on a liquidation plan. The plan aims to compensate victims in cash through wind-down payments, but has faced significant objections from some customers who demand higher repayments, calling the plan 'fatally flawed.' The dispute over the multi-billion dollar plan highlights the ongoing conflict between bankruptcy lawyers in Delaware and class action attorneys in Miami. The outcome of the vote could determine how billions of dollars in claims from FTX's 2022 collapse are distributed.

#FTX #Delaware #Miami

Written with ChatGPT (GPT-4o).