On Oct. 17, FTX debtors announced on [X](https://twitter.com/FTX_Official/status/1714077021075091900) (formerly Twitter) that they had reached an agreement in their bankruptcy case after “extensive discussions” with its creditors. 

FTX debtors filed its proposed settlement with a Delaware bankruptcy court and will formally file the plan by December 16 for approval. 

The plan includes a “shortfall claim” where customers of FTX and FTX US could receive up to 90% of the available assets. This amount breaks down to about $8.9 billion for FTX and $166 million for FTX US. 

If the plan is approved by the court, the funds could be distributed by mid-2024. 

According to the proposal, FTX debtors would “divide substantially all of their assets into three pools based on circumstances at the start of the chapter 11 cases: assets segregated for the benefit of FTX.com customers; assets segregated for the benefit of FTX US customers; and a ‘General Pool’ of other assets.”

In the plan, however, customers who withdrew over $250,000 from the exchange within nine days of the bankruptcy will have their claims reduced by $15. The exception to this is if the claim is under $250,000. 

According to FTX debtors, “eligible customers that have a preference settlement amount of less than $250,000 during the nine-day period would be able to accept the settlement without any reduction of claim or payment.”

The proposed plan also specifies that customers who may have known about the inappropriate use of FTX funds may be excluded from the settlement.


FTX.com creditors could receive a shortfall claim of almost $9B


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