{"id":142890,"date":"2024-11-22T08:30:13","date_gmt":"2024-11-22T06:30:13","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=142890"},"modified":"2024-11-21T23:36:15","modified_gmt":"2024-11-21T21:36:15","slug":"ftx-restructuring-plan-set-for-january-2025-payouts-to-follow-by-march","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ftx-restructuring-plan-set-for-january-2025-payouts-to-follow-by-march\/","title":{"rendered":"FTX Restructuring Plan Set for January 2025, Payouts to Follow by March"},"content":{"rendered":"<p>The bankrupt crypto exchange has <strong><a href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-provides-update-on-upcoming-timeline-for-creditor-and-customer-distributions-302313274.html\">confirmed<\/a> <\/strong>that creditor distributions will start by March at the latest, marking a key milestone in its recovery process.<\/p>\n<p>The company recently announced the completion of its Chapter 11 reorganization plan. CEO John J. Ray III stated that initial payouts would occur within 60 days of the plan\u2019s activation. Eligible creditors will need to set up accounts, complete identity verification (KYC), and submit required tax documents to receive their distributions.<\/p>\n<p>As part of the preparations, FTX plans to finalize agreements with specialized distribution agents by early December. These agents will facilitate the global recovery process for eligible customers in supported regions. Clear instructions for account setup with the appointed agents are expected to follow soon after.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/arkham-intelligence-prepares-u-s-launch-for-spot-trading-platform\/\" title=\"Arkham Intelligence Prepares U.S. Launch for Spot Trading Platform\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/10\/arkham-intelligence-ceo-responds-to-criticism-surrounding-v0-NTDbJEsWvUfgrqcd5e8-8GZn5UhexB9-O6OpXK-7pvw-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Arkham Intelligence Prepares U.S. Launch for Spot Trading Platform<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>By the end of December, FTX intends to confirm the plan&#8217;s effective date, contingent on court approval of the disputed claims reserve amount. Once effective, the first round of distributions will be processed within 60 days. The record date for this initial payout will align with the effective date of the reorganization plan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX is gearing up to implement its restructuring plan, with the effective date anticipated for early January 2025.<\/p>\n","protected":false},"author":7,"featured_media":50500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-142890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FTX Restructuring Plan Set for January 2025, Payouts to Follow by March<\/title>\n<meta name=\"description\" content=\"FTX is gearing up to implement its restructuring plan, with the 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