{"id":864047,"date":"2024-10-08T08:32:21","date_gmt":"2024-10-08T03:02:21","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=864047"},"modified":"2024-10-08T08:37:04","modified_gmt":"2024-10-08T03:07:04","slug":"ftx-cleared-to-repay-billions-to-customers-after-bankruptcy-plan-approval","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/10\/08\/ftx-cleared-to-repay-billions-to-customers-after-bankruptcy-plan-approval\/","title":{"rendered":"FTX cleared to repay billions to customers after bankruptcy plan approval"},"content":{"rendered":"<p>NEW YORK, Oct 7 (Reuters) &#8211; FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading crypto exchange collapsed. <\/p>\n<p>U.S. Bankruptcy Judge John Dorsey approved the wind-down plan at a court hearing in Wilmington, Delaware, saying FTX&#8217;s success made it &#8220;a model case for how to deal with a very complex Chapter 11 bankruptcy proceeding.&#8221; The plan is built on a series of settlements with FTX customers and creditors, U.S. government agencies, and liquidators appointed to wind down FTX&#8217;s operations outside the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Oct 7 (Reuters) &#8211; FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading crypto exchange collapsed. U.S. Bankruptcy Judge John Dorsey approved the wind-down plan at a court hearing in Wilmington, Delaware, saying FTX&#8217;s success made it &#8220;a model case for how to deal with a very complex Chapter 11 bankruptcy proceeding.&#8221; The plan is built on a series of settlements with FTX customers and creditors, U.S. government agencies, and liquidators appointed to wind down FTX&#8217;s operations outside [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55,13,4],"tags":[],"class_list":["post-864047","post","type-post","status-publish","format-standard","hentry","category-it-2-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/864047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=864047"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/864047\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=864047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=864047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=864047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}