FTX Estate Submits Proposal to End Bankruptcy with Delaware Court

The estate of FTX, a crypto enterprise that collapsed in November 2022, has submitted a proposal to end bankruptcy with a Delaware court. The bankruptcy plan classifies creditor and customer claims according to priority and calculates the value of claims based on asset prices at the time of the company's bankruptcy filing. The estate aims to "maximize and efficiently distribute value to all creditors." However, the plan is likely to face opposition from various creditor groups until it's approved by the court, with a hearing date set for 2024.