FTX and its affiliated debtors are on schedule to implement their Chapter 11 Plan of Reorganization by January 2025. The plan includes distributions for creditors and customers, with final arrangements expected to be completed in December. Customers in supported jurisdictions will be able to establish accounts through FTX’s customer portal. The exact date for reimbursements will be revealed once court approval for the Disputed Claims Reserve Amount is secured. The first round of distributions, starting in January 2025, will prioritize holders in the Convenience Classes. The $16.5 billion recovery plan, approved by US Bankruptcy Judge John Dorsey, aims to repay FTX customers ahead of competing claims. Customers must meet certain requirements to qualify for the initial payout. Additionally, the article discusses the SEC's dealer rule, market leverage, and major US-based crypto companies seeking a seat on a crypto policy council. Read more AI-generated news on: https://app.chaingpt.org/news

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