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FTX reaches global agreement with liquidators for crypto exchange’s Bahamas unit

According to a statement on Tuesday, the settlement will see both parties pool assets together and coordinate to establish reserves in order to “ensure that FTX.com customers […] receive substantially identical relative distributions at substantially identical times.”

The agreement still needs to be approved by a U.S. bankruptcy court in Delaware and the Supreme Court of The Bahamas, the statement said.

FTX Chief Executive John Ray, who replaced convicted founder Sam Bankman-Fried, called the development a “critical milestone” in the company’s drive to pay back customers.


Source: Cryptocurrency - investing.com

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