温馨提示:本站仅提供公开网络链接索引服务,不存储、不篡改任何第三方内容,所有内容版权归原作者所有
AI智能索引来源:http://www.bee.com/27744.html
点击访问原文链接

FTX compensation is imminent: less than a quarter of the compensation may be received, and shareholders jump the queue t | Bee Network

FTX compensation is imminent: less than a quarter of the compensation may be received, and shareholders jump the queue t | Bee Network Login Trending News Meme Launchpad AI Agents DeSci TopChainExplorer For Newbee 100x Coins Bee Game Essential Websites Must-Have APP Crypto Celebrities DePIN Rookies Essential Trap Detector Basic Tools Advanced Websites Exchanges NFT Tools Hi, Sign out Web3 Universe Games DApp Bee Hive Growing Platform AD Search English Recharge Coins Login Download Web3 Uni Games DApp Bee Hive AD homeAnalysis•Main text FTX compensation is imminent: less than a quarter of the compensation may be received, and shareholders jump the queue tAnalysis1yrs ago (2024)releasedWyatt 34,8392 18 Compiled by: Felix, PANews

Recently, the latest developments in the FTX bankruptcy case have sparked debate and panic among some people in the crypto community. First, creditors may only receive 10-15% of their assets, and shareholders forced to distribute $230 million in assets to creditors. Later, there were rumors that FTX will begin distributing repayment funds to creditors and customers on September 30. FTXs FTT token rose by more than 80% in 24 hours, reaching a high of $2.71 and is now trading at $2.14.

Newly revised bankruptcy documents spark outrage Previously, according to the FTX bankruptcy plan that received overwhelming initial support from creditors, 98% of creditors will receive at least 118% of the value of their claims in cash.

However, on September 28, Sunil Kavuri, a representative of FTX creditors, disclosed the latest revised bankruptcy documents on the X platform. The refund amount is based on the value of the cryptocurrency when FTX submitted the application, so the creditors will actually receive a return of 10% to 25% of their cryptocurrency. For example, Bitcoin was only about $16,000 at the time.

This decision disappointed many creditors and even sparked anger among FTX creditors.

Sunil Kavuri claimed: The Debtors, the DOJ, and Judge Kaplan confirmed that cryptocurrency holders were not compensated as of the filing date. Many FTX users continue to suffer mental distress, panic attacks, divorce, and suicidal thoughts because their life savings were stolen and their property has not been returned.

The vast majority of FTX creditors agree with Kavuri’s view. One user said: “It’s disgusting that this was sneaked into the plan so late after the vote.” Another FTX creditor commented: “I don’t understand why the law can’t protect us investors,” and described FTX’s collapse as a scam. One FTX creditor commented: “Shameful, we were scammed twice.”

FTX to give shareholders $230 million from government forfeiture proceeds To make matters more complicated, under a newly disclosed agreement , FTX Estate, led by attorneys Sullivan and Cromwell, will donate 18% of the proceeds from the government’s forfeiture action to a special fund for the “exclusive benefit” of certain shareholders, up to a total of $230 million. Although the agreement was formally executed on August 28, nearly two weeks after the deadline for creditors to vote on the plan, the agreement was not made public until September 27, which was also the last day the estate was allowed to submit a revised plan.

Many creditors called the move not only unfair but criminal given the huge financial losses they have suffered because creditors are typically paid before shareholders in bankruptcy proceedings and they were unaware of the provision when they voted overwhelmingly to approve the plan before an Aug. 16 voting deadline.

But the filing said: The debtors and preferred stockholders each wish to avoid the costs, expenses and delays of litigation related to the Plan and the disgorgement of proceeds.

FTXs repayment of funds will start on September 30th is a rumor It is worth mentioning that there are even rumors on social media that FTX will start distributing repayment funds to creditors and customers on September 30. FTT tokens have risen sharply. However, after verification, it was found that the statement was a rumor because the repayment plan has not yet been approved by the court and needs to be confirmed by a hearing.

The confirmation hearing for FTXs restructuring plan is currently scheduled for 10:00 a.m. EST on October 7, when John Dorsey, a judge in the Delaware Bankruptcy Court, will decide whether to approve the plan. If the court confirms the plan, FTX will be allowed to pay more than 98% of its customers and unsecured creditors in full with interest based on the dollar price of crypto assets on November 11, 2022.

According to the disclosure of creditor representative Sunil Kavuri on the X platform, about $5.5 billion in claims come from non-crypto users who are not expected to invest in cryptocurrencies in the future. Claimants with claims of less than $50,000 may start receiving distributions by the end of 2024, while claimants with claims of more than $50,000 may not receive distributions until the first or second quarter of 2025.

Related reading: Why was SBF’s ex-girlfriend Caroline Ellison only sentenced to two years in prison?

This article is sourced from the internet: FTX compensation is imminent: less than a quarter of the compensation may be received, and shareholders jump the queue to distribute $230 million

Related: How can Web3 MMOs games find a way out? Original author: Haotian Yesterday, @Delphi_Digital published a report on web3 MMOs, which introduced how @MetaCeneGame acquired users based on blockchain architecture and how ServerFis new game paradigm was implemented. After reading it, I briefly share a few thoughts: 1) An early investor of Black Wukong said that he would not invest in web3 games because they did not love games. This statement resonated with many practitioners. In the web3 game market dominated by GameFi, this statement really hit the soft spot of some web3 games nakedly and accurately. Highlighting the Fi attribute while ignoring the characteristics of the game itself is the key to why the GameFi track has been long awaited but has not ushered in the next spring. In other words, web3 games must first be games before…

# Analysis# Token© Copyright NoticeThe copyright of the article belongs to the author, please do not reprint without permission. Pre Why the crypto world wants Trump to win Next Occupying half of Layer2, what opportunities does Base and its ecosystem have for making money? Related articles Binance launch path research: Alpha, IDO, Futures, Spot full analysis 6086cf14eb90bc67ca4fc62b 33,579 2 24-Hour Hot Cryptocurrencies and News | US Treasury Secretary Bessant: The Fed should cut interest rates if inflation fa 6086cf14eb90bc67ca4fc62b 16,261 Wash trading, gaming, and disillusionment: Is the end of crypto airdrops here?Recommended Articles 6086cf14eb90bc67ca4fc62b 23,076 4 RWA Weekly Report | US SEC’s Proposed Blockchain Stock Trading Faces Strong Opposition from Traditional Financial Instit 6086cf14eb90bc67ca4fc62b 19,337 2 Panoramic Interpretation of the Restaking Sector: Opportunities, Risks, and Restructuring 6086cf14eb90bc67ca4fc62b 9,041 Solana CEO Interview: From Garage Startup to Top Public Chain, Talking about Solana’s Past and Future 6086cf14eb90bc67ca4fc62b 47,721 12 2 comments You must be logged in to leave a comment! Login immediately #BeelieverINL5WWK Guest I was a scam victim, I lost a lot of money up to $170,000 I would like to express my gratitude to Innovations recovery Analyst for their exceptional assistance in recovering my funds from a forex broker. Their expertise and professionalism in navigating the complex process were truly commendable. Through their guidance and relentless efforts, I was able to successfully recover my funds of $170,000, providing me with much-needed relief. I highly recommend them on – INNOVATIONSANALYST@ GMAIL. COM or WhatsApp + 1 424 285 0682 to anyone facing similar challenges, as their dedication and commitment to helping clients are truly impressive. Grateful for their invaluable support in resolving this matter.

3mos ago #BeelieverTYRDVMI Guest “If you’ve lost money fraudulently to any company, broker, or account manager and want to retrieve it, contact www.Bsbforensic.com They helped me recover my funds!”

12mos ago Bee.com The world's largest Web3 portal Partners CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors Download Bee Network APP and start the web3 journey White Paper Roles FAQ © 2021—2026. All Rights Reserved. Privacy Policy | Terms of Services Download Bee Network APP and start the web3 journey The world's largest Web3 portal Partners CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors White Paper Roles FAQ © 2021—2026. All Rights Reserved. Privacy Policy | Terms of Services Search SearchInSiteOnChainSocialNews Hot to you: Airdrop Hunters Data Analysis Crypto Celebrities Trap Detector English 繁體中文 简体中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी اردو Русский English

智能索引记录