TechFlow reported, according to CoinDesk, that FTX's proposed settlement agreement seeks to allocate 90% of the remaining assets after the bankruptcy proceedings to creditors. Lawyers representing some creditors are now working to secure sufficient investor support to finalize this agreement.
This 90% allocation refers to a portion of the funds left over after the completion of bankruptcy procedures, not 90% of the original amounts users deposited into FTX.com. Therefore, the exact amount to be returned to FTX users remains uncertain.
In addition, customers who managed to withdraw assets from FTX during the nine-day period in early November 2022 must return 15% of those funds in exchange for release from claims by the bankruptcy trustee. If the settlement gains creditor approval, it will still require confirmation by the bankruptcy court.
