FTX Trading Ltd and its subsidiaries are nearing the completion of important steps to implement the Chapter 11 reorganization plan approved by the court. 🌐

- When completed, this plan will enable the company to distribute up to $16.5 billion to creditors and customers.

- According to a press release on November 21, CEO John J. Ray III expressed satisfaction with the progress and expects distributions to begin in early 2025.

- FTX plans to announce the effective date of the plan by the end of December, with initial distributions occurring within 60 days thereafter.

The reorganization plan was approved by the U.S. Bankruptcy Court in October 2024, with strong support from creditors. 💼