FTX Creditors Approve $6B Payout: Distribution to Begin Soon
FTX creditors have overwhelmingly approved a reorganization plan to distribute over $6 billion to those affected by its 2022 collapse. About 94% supported the proposal, with payouts expected to begin in 4-8 weeks. Most creditors will receive at least 118% of their claims, though based on the original value of assets. FTX's leadership faces legal consequences, with former CEO Sam Bankman-Fried serving 25 years in prison, and Caroline Ellison sentenced to two years for their roles in the collapse.
