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[FTX Releases The Latest Progress Of The Proposed Settlement Plan For Preferred Shareholders, Emphasizing That Preferred Shareholders Are Victims Just Like Creditors] FTX Official Disclosed On The X Platform That FTX Creditors Are Providing The Latest Progress Of The Proposed Settlement With Preferred Shareholders. FTX Will Return 100% Of The Assets Under Its Control To Creditors Under The Chapter 11 Plan. The Department Of Justice Is Responsible For Controlling The Distribution Of Assets Confiscated Through Criminal Cases And Has Made It Clear That Preferred Shareholders Are Victims Just Like Creditors Under Criminal Law. FTX And Preferred Shareholders Have Competing Claims For The Proceeds Of The Confiscation. While The Department Of Justice Will Decide How To Reconcile These Competing Claims, If The Department Of Justice Accepts The Settlement, FTX Believes That The Plan Is Fair To Both Parties And Avoids A Protracted Dispute. In This Settlement, FTX Requires The Department Of Justice To Agree To A Centralized Distribution Process Through The FTX Ch. 11 Plan To Speed Up Distributions To Creditors And Avoid A Lot Of Redundant Expenses
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