Empire Newsletter: FTX bankruptcy almost across the finish line

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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