CandleFocus FTX сreditors reveal compensation details: What’s wrong with it?
2024-09-30
Author: Content Editor
The news states that FTX clients will receive between 10% and 25% of the value of their deposited crypto assets as compensation. This is due to the assets being valued at the rate when filing for bankruptcy. Additionally, FTX shareholders will receive an additional 18% of funds confiscated by the U.S. Department of Justice. However, many users expressed dissatisfaction with the terms, suspecting conflicts of interest with law firms involved in the recovery process. The court is still studying the compensation plan, with the next hearing scheduled for October 7. FTX's bankruptcy and the misuse of client funds have shaken the crypto market, and investigations and legal actions are ongoing against FTX's top managers. Despite the controversy, FTX's return of funds is anticipated to bring an influx of $16 billion into the market. FTX's token (FTT) experienced a significant price increase but eventually corrected.
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