FTX, the collapsed crypto exchange, has unveiled its latest plan to return billions of dollars to customers and creditors as it seeks to end its bankruptcy proceedings. The plan would see billions in cash distributed after FTX's cryptocurrencies are liquidated. It leaves some major questions unanswered, like whether FTX will restart its exchange and how assets will be valued. FTX Founder Sam Bankman-Fried was convicted for committing a large-scale fraud that precipitated the cryptocurrency exchange's failure.
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00:00 It's Benzinga and here's what's on the block.
00:02 FTX, the collapsed crypto exchange, has unveiled its latest plan to return billions of dollars
00:06 to customers and creditors as it seeks to end its bankruptcy proceedings.
00:10 The plan would see billions in cash distributed after FTX's cryptocurrencies are liquidated.
00:14 It leaves some major questions unanswered, like whether FTX will restart its exchange
00:18 and how assets will be valued.
00:20 FTX founder Sam Bankman-Fried was convicted for committing a large-scale fraud that precipitated
00:24 the cryptocurrency exchange's failure.
00:26 A reorganization plan is set to distribute billions to creditors as advisors work to
00:30 recover assets and clarify debts.
00:32 The bankruptcy case is ongoing in Delaware court.
00:35 The reorganization plan will need to address outstanding questions before being finalized
00:39 and implemented.
00:40 For all things money, visit Benzinga.com.
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