FTX Dotcom Creditors Vote Massively in Favor of Reorganizing Plan
https://www.coindesk.com/business/2024/10/01/ftx-dotcom-creditors-vote-massively-in-favor-of-reorganizing-plan/?utm_content=editorial&utm_medium=social&utm_source=telegram&utm_term=organic&utm_campaign=news
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tldr; Over 94% of FTX Dotcom customers voted in favor of the reorganization plan for the bankrupt crypto exchange FTX. Nearly all creditor classes supported the plan, with two classes not returning ballots but presumed to accept. The plan aims to return 118% of claims in cash to most creditors, representing about $6.83 billion in claims. The vote results were reported by restructuring agent Kroll.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
So this is the reason why FTT is up 11% in the past 24 hours? People are so crazy… FTX probably won’t be back and even if does, it won’t have the customers trust to put money back on it.
This is just a proof on how insane this market is.