FTX Announcement: Court-Approved Chapter 11 Reorganization Plan Will Take Effect on January 3, 2025

The court-approved Chapter 11 reorganization plan will take effect on January 3, 2025, and is set as the record date for the initial distribution. The initial distribution is expected to be completed within 60 days after the effective date and applies to approved claims in the convenience class. FTX has partnered with BitGo and Kraken to assist in distributing recovery funds to customers and creditors. Distribution requirements include completing KYC verification, submitting tax forms, and coordinating with designated service providers. FTX reminds users to be vigilant against phishing emails and scam websites and will announce distribution dates for other categories of claims in the future.

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