US Court Approves FTX Bankruptcy Plan: 98% of Creditors Refunded

A US court has approved FTX's bankruptcy plan. According to reports, Judge John Dorsey of the Delaware Bankruptcy Court
Dorsey has approved a bankruptcy plan for FTX, a large cryptocurrency exchange that disappeared in 2022.
Under the bankruptcy plan, 98% of creditors will receive more than 118% of the value of their claims in cash.
John Ray III, the current CEO of FTX, said, "FTX is prepared to repay 100% of the claims to creditors plus interest." The total amount that FTX will repay is $16 billion (approximately
Judge John Doshi said, "The value of FTT, the exchange token of FTX, has fallen to zero (0), and I am opposed to the proposal to redeem the bonds with virtual assets in kind.
"He revealed that.