FTX Token rises due to reimbursement plan: The price of FTX Token (FTT) rose significantly after the U.S. Bankruptcy Court approved the reorganization plan of FTX Trading Ltd. This plan aims to reimburse customers and creditors, with the initial phase expected to occur in January 2025. Investor optimism has driven FTT’s price up by 42%.

Customers need to meet procedural requirements: FTX customers need to complete the registration process through the portal, verify their identity, and fill out tax forms to receive reimbursement. Customers who meet the conditions before the record date will receive the first distribution, which will take place within 60 days after the plan comes into effect. The preparations are complete with official distribution agents active from early December.

FTX faces legal challenges post-bankruptcy: Despite progress with the reimbursement plan, FTX continues to face challenges from legal issues. Creditors criticize the plan, claiming the asset valuation is unfair compared to the bankruptcy period. FTX also filed lawsuits against other entities to recover assets, such as claiming 50 million USD from KuCoin.

Market growth from asset recovery: FTX’s team has recovered significant assets, boosting positive market sentiment, and FTT’s price has seen a strong surge recently. The FTT/USD price chart shows an explosion, with the RSI indicating a possible cooldown soon. The 24-hour trading volume increased 267%, while the market cap rose 20%.