Creditor activist Sunil Kavuri has voiced strong opposition to the proposed plan of FTX to compensate the defrauded customers of the fallen crypto exchange. Kavur took to X to outline his concerns and encourage a collective “NO” vote against the plan. For context, FTX creditors stand to lose over $10 billion should the proposed plan […]
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- Sunil Kavuri criticizes FTX’s compensation plan for severely undervaluing customer claims.
- FTX customers will potentially lose $10 billion with the proposed plan.
- The plan includes clauses shielding the firm from lawsuits, which may lead to claim forfeitures if checks are not cashed in time.
Creditor activist Sunil Kavuri has voiced strong opposition to the proposed plan of FTX to compensate the defrauded customers of the fallen crypto exchange. Kavur took to X to outline his concerns and encourage a collective “NO” vote against the plan. For context, FTX creditors stand to lose over $10 billion should the proposed plan pass.
The activist highlighted the proposed repayment structure severely undervalues the claims of FTX customers. Specifically, the plan suggests paying out claims with an 18% return for those under $50,000 …
The post FTX Customers Face Potential $10B Loss with Proposed Compensation Plan appeared first on Coin Edition.
