FTX has submitted a new plan for restructuring, promising that each of its clients will be reimbursed for the losses incurred during the downfall of the exchange. Approximately 98% of FTX's creditors stand to receive at least 118% of their entitled claims in cash. The company estimates the total sum available for distribution to be somewhere in the ballpark of $14.5 to $16.3 billion.

After declaring bankruptcy, the crypto exchange FTX recently lodged its awaited Restructuring Proposal at the United States Bankruptcy Court for the District Court of Delaware. The company has mapped out a scheme for the "centralized allocation" of compensation to affected clients worldwide, pending court approval. As per a recent press release, they project the total distribution amount to fall between $14.5 and $16.3 billion, primarily contingent on the conversion of assets linked to FTX's affiliate enterprise, Alameda Research.

While ensuring complete repayment of creditor claims, FTX also intends to extend compensation to its customers. It has been disclosed that within a span of 60 days post-effectiveness, around 98% of FTX creditors carrying claims below $50,000 are in line to receive a minimum 118% of their allowable claims in cash. Through the reorganization plan, FTX aims to grant a sense of assurance to... The article concluded with the announcement, “FTX Submits Revised Restructuring Proposal, Guarantees Complete Reimbursement,” featured on Coin Edition.