FTX settles customer property disputes to speed up bankruptcy proceedings

Quick Take

  • FTX said customers may get over 90% of distributable value worldwide in a shortfall claim if the amended plan is approved by the court by the second quarter of next year.

Bankrupt crypto exchange FTX has reached a proposed settlement with key creditors for customer property disputes in an attempt to resolve the litigation filed against the debtors and confirm an amended payout plan as early as the second quarter of next year.