đąăLatest developments in FTX bankruptcy case: confirmation hearing is about to be heldă
Odaily Planet Daily reported that the FTX bankruptcy case has made new progress! At 10:00 a.m. EST on October 7 (22:00 Beijing time), the Delaware Bankruptcy Court will hold a confirmation hearing to discuss FTX's proposed Chapter 11 reorganization plan and its related disclosure statement plan.
If the court confirms the plan, FTX will pay more than 98% of its customers and unsecured creditors "in full with interest" according to the US dollar price of crypto assets on November 11, 2022. đ°
However, the compensation may be executed after three "comprehensive hearings", which are scheduled for October 22, November 20, and December 12. Please note that the current rumors on social media that "FTX will start paying compensation next week" are false. đ«
The Bitcoin market is still full of hope, so stay tuned! đ
