FTX Dotcom Creditors Vote Massively in Favor of Reorganizing Plan

Over 94% of FTX Dotcom customers voted to accept a reorganization plan, promising to return 118% of claims in cash to most creditors.

The FTX plan secured support primarily from clients of the offshore exchange, whose claims total approximately $6.83 billion.

With creditor support locked in, no significant opposition is expected from two creditor classes presumed to accept the plan.

The next step requires bankruptcy court approval for the reorganization, but challenges remain, like SEC objections over stablecoin repayments.

Read at Coindesk