Bankrupt cryptocurrency exchange FTX has proposed a plan to return up to 90% of the funds held by creditors before its collapse in November. The plan, which will be filed with a U.S. bankruptcy court by December 16, states that customers with a preference settlement of less than $250,000 can accept the settlement without any reduction in their claim or payment. The preference settlement refers to 15% of customer withdrawals made nine days prior to the exchange’s closure. In addition to this, creditors will also receive a “Shortfall Claim” against the general pool, representing the estimated value of missing assets on the exchange. For FTX.com, this is estimated to be nearly $9 billion, while for FTX.US, the exchange’s U.S. arm, it is estimated to be $166 million. However, there are potential obstacles to the recovery process, including taxes, government claims, and fluctuations in token prices.

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Information	Details
Geography	North America
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Relevance Score	1
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Companies	U.S. bankruptcy court, FTX
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