The FTX Bankruptcy Hearing Will Be Held This Wednesday, FTT Surges Over 5%
FTX Trading has presented an agenda for the upcoming bankruptcy hearing scheduled for August 23, 13:00 Eastern Time, before Judge John T. Dorsey of the Delaware Bankruptcy Court. The submitted agenda comprises 15 items, with nine already resolved through a court order issued on August 18, rendering them non-essential for the forthcoming hearing. This leaves six key matters yet to be addressed, including a proposal for a settlement procedure and the most recent case status.
The cryptocurrency exchange’s filing includes essential updates regarding its ongoing bankruptcy case, including a request to institute a litigation claims process to address the aftermath of the exchange’s collapse. The hearing will delve into various aspects of FTX’s Chapter 11 bankruptcy case, which was initiated on November 11, 2022, following the significant downfall of the exchange. Allegations of fraud and improper utilization of customer funds have been leveled against the exchange, its affiliated entities, and its founder, Sam Bankman-Fried. The agenda includes updates concerning the bankruptcy case, a motion to formalize protocols for resolving litigation claims linked to its demise.
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