FTX's Bold Plan: Ending Bankruptcy and Returning Billions to Creditors
TL;DR Summary
Bitcoin struggles to gain momentum as it opens the trading week down 2% at $41,000, while Ether falls 3% to $2,100. Altcoins like Helium's HNT and Stacks' STX experience gains. Meanwhile, the estate of collapsed crypto enterprise FTX submits a proposal to end bankruptcy, aiming to maximize value for all creditors. Goldman Sachs highlights the institutionalization of the crypto market, with regulated derivatives venues seeing significant growth in 2023.
- First Mover Americas: Bitcoin Struggles to Gain Momentum; FTX Files Plan to End Bankruptcy CoinDesk
- FTX's revised reorganization plan values crypto claims at time of bankruptcy The Block - Crypto News
- FTX Files Plan to End Bankruptcy, Pay Crypto Creditors Billions Bloomberg
- FTX debtors assess value of crypto claims based on petition date market prices Cointelegraph
- FTX files plan to END bankruptcy with plans to return billions of dollars to creditors and customers - months Daily Mail
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