US bankruptcy judge approves FTX reorganization plan, two years after the exchange's collapse

- A U.S. bankruptcy judge has approved FTX's reorganization plan, allowing for the distribution of funds to creditors after the exchange's collapse two years ago.

- Approximately 94% of creditors in the "dotcom customer entitlement claims" class supported the plan, which guarantees that 98% of creditors will receive at least 118% of their claim value in cash.

- The plan faced criticism for not allowing in-kind distributions of cryptocurrency, with concerns raised about potential tax implications for creditors receiving cash instead.

- FTX's CEO and other executives have faced legal consequences, with Sam Bankman-Fried sentenced to nearly 25 years in prison for fraud-related charges.

https://www.theblock.co/post/319909/us-bankruptcy-judge-approves-ftx-reorganization-plan-two-years-after-the-exchanges-collapse