FTX draft bankruptcy plan seeks cash repayment, FTT wipeout: Report

FTX Group unveiled a draft creditor-repayment plan as part of its bankruptcy that calls for settling customer claims in cash and wiping out its digital token FTT.

The plan — which FTX expects to amend based on feedback from stakeholders — proposes valuing customer claims in US dollars as of the date it went bankrupt and repaying them by selling assets tied to various silos of the business, court papers show. FTX also still hasn’t ruled out rebooting an offshore exchange, according to the filings.