FTX Reaches Agreement with Bahamian Liquidators

FTX has entered into a settlement with liquidators
for its Bahamas-based unit. This agreement involves the consolidation of assets and
adopting a unified approach to valuing customers’ claims.

According to a statement shared with PR Newswire,
this settlement allows customers of FTX to select their repayment route from
either the U.S. bankruptcy or Bahamian liquidation proceedings.

Peter Greaves, the Joint Official Liquidator,
mentioned: “This continues to be an exceptionally complex insolvency with
a myriad of jurisdictional, technical and practical challenges to work
through.

“For the millions of customers of the FTX
Group, based across 230 jurisdictions, this is a landmark breakthrough allowing
for collaboration in the monetization of assets and the adjudication of
customer claims, with an approach that provides a roadmap to accelerate the
return of funds to customers.”

Expect ongoing updates as this story evolves…

FTX has entered into a settlement with liquidators
for its Bahamas-based unit. This agreement involves the consolidation of assets and
adopting a unified approach to valuing customers’ claims.

According to a statement shared with PR Newswire,
this settlement allows customers of FTX to select their repayment route from
either the U.S. bankruptcy or Bahamian liquidation proceedings.

Peter Greaves, the Joint Official Liquidator,
mentioned: “This continues to be an exceptionally complex insolvency with
a myriad of jurisdictional, technical and practical challenges to work
through.

“For the millions of customers of the FTX
Group, based across 230 jurisdictions, this is a landmark breakthrough allowing
for collaboration in the monetization of assets and the adjudication of
customer claims, with an approach that provides a roadmap to accelerate the
return of funds to customers.”

Expect ongoing updates as this story evolves…