The U.S. Securities and Exchange Commission (SEC) may oppose the plan proposed by bankrupt cryptocurrency exchange FTX to repay creditors using U.S. dollar-pegged stablecoins.
What Happened: In a court document, the regulator stated it reserves its rights to object to the transactions detailed in FTX's liquidation plan, Decrypt reported Monday. The SEC clarified that it "is not opining as to the legality, under the federal securities laws, of the transactions" but may challenge transactions involving cryptocurrency assets.
The SEC pointed out that the administrators for the FTX estate have not identified the distribution agent, which may potentially distribute stablecoins to creditors under the plan.
The approved restructuring plan would have allowed debtors to receive up to 118% of their claims in cash, but only those claiming less than $50,000 would have been eligible for the repayments.
Why It Matters: The development came after the cryptocurrency exchange, which went bust in November 2022, agreed on a plan to repay its creditors between $14.5 billion and $16.3 billion in total compensation, about $5.3 billion more than what was owed.
This was a rare outcome in U.S. bankruptcies where creditors typically receive only a fraction of their claims. The majority of customers are expected to receive 118% of their claims in cash.
Sam Bankman-Fried, the exchange's founder, was sentenced to 25 years in prison after being convicted of defrauding customers, investors, and lenders in March. The company had to liquidate his $222 million worth of real estate to compensate creditors.
Price Action: As of this writing, FTX Token (CRYPTO: FTT) tied to the exchange was trading at $1.29, up 5% in the last 24 hours, according to data from Benzinga Pro.
- Trump Reestablishes Lead Over Kamala Harris In Presidential Odds On Crypto-Based Prediction Market
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
美国证券交易委员会(SEC)可能反对破产的加密货币交易所FTX使用与美元锚定的稳定币偿还债权人的计划。
根据《解封报告》周一爆料,监管机构在法庭文件中表示,保留对FTX清算计划中详细交易的反对权。SEC澄清称,“并不就交易的合法性根据联邦证券法进行评估”,但可能会对涉及数字货币资产的交易提出质疑。
SEC指出,FTX的执行人尚未确定分配代理人,该代理人可能根据该计划向债权人分发稳定币。
经批准的重组计划本将允许债务人获得高达其索赔金额的118%的现金,但只有那些索赔金额低于50,000美元的债权人才有资格获得偿还。
为什么这很重要:此前,这家在2022年11月破产的加密货币交易所同意了一项计划,向其债权人总共偿还了14.5亿至16.3亿美元的赔偿款,比原本应偿还的金额多出5.3亿美元。
这在美国破产案中是罕见的结果,因为债权人通常只能获得他们索赔金额的一小部分。大部分客户预计将获得其索赔金额的118%的现金。
FTX交易所的创始人Sam Bankman-Fried在今年3月被判诈骗客户、投资者和借款人罪名成立,被判处25年监禁。该公司不得不变现其价值2,2200万美元的房地产以偿还债权人。
价格走势:截至目前,根据Benzinga Pro的数据,与该交易所相关的FTX代币(加密货币:FTT)在过去24小时内以1.29美元的价格上涨了5%。
- 特朗普在基于加密货币的预测市场上的总统竞选赔率上重新领先于卡玛拉·哈里斯。
免责声明:本内容部分使用Benzinga Neuro制作,并由Benzinga编辑审核和发布。
图片来源:shutterstock