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US Court approves FTX asset compensation plan for victims

The Delaware District Bankruptcy Court has agreed to approve FTX’s asset compensation plan. According to the plan, 98% of creditors and affected users will receive up to 118% of the assets they requested to be returned.

Creditors will start receiving their payments within 60 days of the plan going into effect. The total amount of compensation, converted into cash, is expected to range between $14.7 billion and $16.5 billion. The plan had previously garnered the support of 94% of FTX creditors and customers.

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