🚨🚨Urgent Alert 🚨🚨
🚨 FTX Creditors Ready to Vote on Payback Plan!
FTX creditors are gearing up to vote on a pivotal reorganization plan that may soon pave the way for repayments! 🎉
🗳️ Vote on Funds Recovery Plan Set for October 7!
The official committee of unsecured creditors has struck a deal with debtors and is calling for all creditors to cast their votes on October 7. This critical vote could accelerate the recovery of lost funds for many. 📅
💸 Recovery Expectations: Only 10-25%?
Recent court documents shared by self-proclaimed FTX creditor activist Sunil Kavuri indicate that creditors might only recover 10-25% of their lost assets. 😞 The plan reveals that FTX will direct 18% of forfeited funds from the US Department of Justice into a special “Preferred Shareholder Remission Fund,” totaling $230 million. While preferred shareholders stand to gain, many crypto holders are left feeling frustrated over their low recovery prospects.
😡 Users Voice Their Frustration!
One disgruntled user remarked, “Disgraceful, we have been scammed twice!” 🚫 Kavuri highlighted that repayments will be calculated based on asset prices at the time of FTX’s bankruptcy filing. For instance, Bitcoin was valued around $16,000 then but is now soaring at $65,000! 📈 Meanwhile, Solana has skyrocketed from $17 to $160!
💔 Traders Unhappy with Last-Minute Changes
Crypto traders have expressed their discontent with the latest tweaks to the payback plan, voicing their disagreements on social media. The path to recovery is fraught with frustration as many await what could be a long and bumpy ride ahead! 🚀
Stay tuned for updates as the vote approaches!
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