FTX creditors stand to collectively lose millions under new reogranization plan
FTX Debtors filed an amended Chapter 11 reorganization plan on Dec. 16 that will potentially lead to millions of dollars worth of losses for the defunct crypto exchange’s creditors. The plan proposes valuing the creditors’ claims at crypto prices on Nov. 11, 2022, the day FTX filed its bankruptcy petition. In the days leading up...