📌#FTT #FTX Reached a settlement with the IRS (yesterday)
IRS will receive a priority claim of $200 million and a junior subordinate claim of $685 million (lowest priority) in the FTX bankruptcy case
The settlement agreement will take effect only after the judge approves the revised plan at the hearing on June 25;
From the initial claim of $44 billion → $24 billion → $200 million
The FTX debtor team finally did something practical for the creditors
