Summary
TLDR: Debtors of defunct crypto exchange FTX warn against unauthorized third parties soliciting bids for assets. FTX plans to sell off assets under strict plan approved by US Bankruptcy Court. Creditors will be repaid based on crypto value at time of bankruptcy. FTX to submit plan to creditors for final vote this year. FTX has sold off $707 million worth of assets and received approval to sell stake in AI company, potentially increasing chance of full repayment to creditors.
Key Points
1. FTX debtors warn against unauthorized companies attempting to sell assets under FTX control.
2. FTX was granted approval to sell off $3.4 billion in assets under a strict plan to minimize market impact.
3. FTX plans to submit the repayment plan to creditors for final approval this year, with $1 billion from recent asset sales potentially contributing to full repayment.