A quick summary of FTX’s plans:
- Customers with less than $50,000 in accounts will receive 118% repayment within 60 days of plan confirmation
(roughly Q1 2025), which represents 96% of total customers.
- Customers with more than $50,000 in accounts will receive 118%-145% repayment over time through post-litigation interest and sharing of government fines.
- Customers holding NFTs will get their NFTs back.
- Claims allowed by BlockFi will receive approximately 50% repayment, which is less than the average customer.
- Government claims come after customers and receive very little—most of the value goes to customers (as it should).
- Preferred stock and FTT token holders will receive nothing.
- Finally, the debtor has waived customer priority.