FTX's Global Settlement and Reorganization Plan Ignite Solana Rally

FTX Trading Ltd. and its affiliated debtors, FTX Debtors, have reached a global settlement with the Joint Official Liquidators (JOLs) on behalf of FTX Digital Markets Ltd. The settlement aims to maximize recoveries and reconcile claims for FTX.com customers. Under the agreement, assets will be pooled, and distributions will be coordinated to ensure substantially identical relative distributions at the same time. Customers will have the option to have their claims reconciled and paid in either the Chapter 11 cases of FTX Debtors or the liquidation proceeding for FTX Digital Markets in the Bahamas. The valuation of customer claims will be based on the petition dates, and FTT interests will be treated as equity. The settlement is subject to court approval.