FTX is ready to make a splash! 🎉 After much drama, FTX Trading Ltd and its debtors are close to completing a major step toward a court-approved Chapter 11 reorganization plan.

- The plan will allow for distributions of up to $16.5 billion to creditors and customers. Get ready, distributions will begin in early 2025!

- FTX CEO John J. Ray III is pleased with the progress. His professional team has already collected billions of dollars for FTX’s creditors and customers.

- This December, FTX will work with a special distribution agent to streamline the global recovery process. Customers will receive instructions through the customer portal.

- The plan is fully supported by creditors, with the potential for recovery of up to 140% of their claims.

What do you think about FTX’s move? Let’s discuss in the comments!