00:00 It's Benzinga and here's what's on the block.
00:02 FTX, the collapsed crypto exchange, has unveiled its latest plan to return billions of dollars
00:06 to customers and creditors as it seeks to end its bankruptcy proceedings.
00:10 The plan would see billions in cash distributed after FTX's cryptocurrencies are liquidated.
00:14 It leaves some major questions unanswered, like whether FTX will restart its exchange
00:18 and how assets will be valued.
00:20 FTX founder Sam Bankman-Fried was convicted for committing a large-scale fraud that precipitated
00:24 the cryptocurrency exchange's failure.
00:26 A reorganization plan is set to distribute billions to creditors as advisors work to
00:30 recover assets and clarify debts.
00:32 The bankruptcy case is ongoing in Delaware court.
00:35 The reorganization plan will need to address outstanding questions before being finalized
00:39 and implemented.
00:40 For all things money, visit Benzinga.com.
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