End in sight

There’s some good news for creditors in the joint reorganization plan filed late Tuesday by FTX’s bankruptcy overseers.

FTX says it has collected between $14.5 billion and $16.3 billion in cash, and it’s ready to distribute those funds to creditors. It owes customers and other creditors around $11 billion. FTX says that 98% of its non-government creditors will receive “at least” 118% of claims in cash within two months of the plan being approved. 

Some, including crypto loan creditors, could see up to 142% of their claims paid back, according to a court filing. 

Others can expect to be paid in full and receive interest on their claims. 

But don’t get too…

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