📢Blockchain News Flash is here! FTX sparked a debate over its reorganization plan at a bankruptcy hearing on Tuesday. 👨‍⚖️Judge John Dorsey will approve the plan and disclosure statement, and creditors will then vote on the plan before a confirmation hearing later this year. 🗳️

FTX lawyer Andrew Dietderich said the plan was "largely consensual." He also emphasized that one of the purposes of the vote was to get creditors' feedback. 👥

FTX announced its reorganization plan in May, allowing creditors with claims of less than $50,000 to be eligible for 118% compensation after court approval. 💰However, some creditors opposed the plan and said that they should be paid in kind in cryptocurrency rather than in dollar value when the trading platform files for bankruptcy in November 2022. 🔐

This is an important discussion about global regulatory trends, industry trends, and cryptocurrency news on blockchain, which is worth our attention! 🔍