Wu said that according to PR Newswire, FTX Trading Ltd. and its affiliated debtors announced that they will soon complete the final prerequisites for the Chapter 11 reorganization plan, which is scheduled to take effect in early January 2025, paving the way for creditors and customer distributions. CEO John J. Ray III said that the initial distribution will be carried out within 60 days after the plan takes effect, and customers need to establish an account with the distribution agent and complete KYC verification. FTX expects to reach an agreement with the distribution agent in early December, announce the specific effective date at the end of December, and continue to promote debt recovery.