|

FTX creditors closer to repayment, voting on payback plan begins on October 7

  • FTX’s creditors are set to vote on a reorganization plan, this could open doors to repayment soon. 
  • The Official Committee of unsecured creditors put forward a plan post negotiations with debtors and believe that it offers the best case scenario, and call those affected to vote. 
  • The FTX repayment plan’s last minute changes have garnered criticism from traders and creditors on X. 

FTX creditors could soon receive payback of lost funds according to court documents and a call to vote that surfaced online. The official committee of unsecured creditors of FTX called upon investors who lost their funds to the FTX collapse to vote on a proposed repayment plan on October 7. 

The outcome of the vote could accelerate payback for creditors. 

FTX creditors to vote on plan for funds recovery

The official committee of unsecured creditors of FTX negotiated a plan with debtors and called creditors to vote on the same on October 7. According to a document, debtors and the official committee negotiated the payment plan, date value of creditor claims and distributions, finally calling for a vote. 

The October 7 vote could determine the next step in the recovery of user funds in the FTX collapse and bankruptcy. It was previously noted during the bankruptcy process that the crypto assets have noted an enhancement in their value and creditors can be paid back on a dollarized basis. 

Crypto traders expressed their dissent on the last minute changes to the payback plan per their responses on X. 

October 7 is therefore a key date to determine whether the reorganization plan will be put into effect and whether payments to unsecured creditors, exchange users who lost their crypto assets to the collapse will receive their funds. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe recover, echoing Bitcoin rebound

Dogecoin, Shiba Inu, and Pepe are trading mixed as Bitcoin records minor gains on Monday, warming sentiment across the broader cryptocurrency market. Still, the incipient recovery in Dogecoin, Shiba Inu, and Pepe remains fragile amid the prevailing downtrend.

Bitcoin consolidates as downside risks persist

Bitcoin has made only three wave rallies from the November lows, which is one of the most important indications that more weakness may still lie ahead.

Polkadot's (DOT) dips, with token underperforming wider crypto markets

DOT $1.8269 fell 2% to $1.84 over the last 24 hours. Trading volumes were 7.8% above the seven-day moving average at 7.76 million tokens, according to CoinDesk Research's technical analysis model.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.