What important events have happened recently at FT

#FTT #FTX重启 #ftx

I spent more than a month dealing with some personal matters. Today I started to return to the follow-up work and update all kinds of important news continuously!

Today I will update what important events have happened in FTX recently?

1. FTX Customer Ad Hoc Committee (CAHC) Current Status:

Since the organization was established in December last year and submitted a destruction plan to the court, it has recently launched its official website: ftxvote.com, calling on creditors to vote "no" to any plan proposed by FTX before resolving the following issues:

① [Customer’s interests come first]

Equity income and appreciation of crypto assets similar to Anthropic should also be paid to creditors first;

② [No 30% withholding tax]

Non-U.S. creditors do not pay the 30% tax or are borne by the IRS;

③【Compensation will be made according to the current cryptocurrency price】

④【Compensation will be returned in cryptocurrency, do not mail a check】

Currently, 1,293 creditors have joined, representing approximately US$680 million in claims, “Fighting for Justice”

2. SBF’s criminal sentencing:

Prosecutors from the U.S. Department of Justice recommended that the judge sentence SBF to 40-50 years in prison. Recently, SBF’s defense lawyer team submitted a sentencing application to the judge (Lewis Kaplan), requesting that SBF be sentenced to no more than 6.5 years in prison.

The District Court of the Southern District of New York is scheduled to make a verdict against SBF at 21:30 pm (Beijing time) on March 28, with a total of seven criminal charges;

(Blind guessing is sentenced to at least 22 years in prison, based on the fact that SBF has been weaving lies to deceive the judge + the increase in claims due to the appreciation of crypto assets)

3. FTX reorganization

FTX’s bankruptcy lawyer previously stated that “because there are no buyers, the exchange will not be restarted for the time being.” Therefore, subsequent reports on the FTX 2.0 restructuring have almost disappeared.

According to relevant procedural regulations, if the court does not approve the revised plan before the end of the second quarter of 2024, Taggle will execute liquidation procedures and return user assets (estimated to be 100%). The lawyer only said that it would not restart "for the time being", so there are still more than 3 months to fantasize about the possibility of FTX 2.0!

4. $FTT Chips and clearing address

1. The two wallet addresses of FTX Bahamas Joint Provisional Liquidator (JPL) have not changed, holding a total of 241.7 million $FTT, accounting for approximately 73.49% of the total FTT tokens;

2. Binance’s holdings decreased slightly by about 1%, accounting for about 11%;

The specific chip distribution can be seen in the attached picture. Overall, it has not changed much from 4 months ago, but you need to pay close attention to the changes in addresses 1, 2, 4, and 5 to see whether they will be liquidated or sold or destroyed in other ways! Observation address:

etherscan.io/token/0x50D1c9…

【Summarize】:

* There are only 3 months left for the possibility of FTX 2.0 reorganization. However, creditors and the UCC seem to no longer support the reorganization, so there is little hope!

* $FTT Liquidation/sale or destruction is directly related to the currency price, so pay attention at all times!

* Binance is currently the largest holder of FTT and the supporter of residual value because it incurred large losses on FTX in the early days;

* If there is no restructuring plan at the end of the second quarter, FTT will only have MEME value left in Binance;

* Creditors can go to the CAHC official website to support and participate in their plans;

$FTT

热点： AT FTX