The debtors of FTX, a cryptocurrency exchange that filed for bankruptcy protection in the United States in November last year, announced on Tuesday that they have reached a global settlement with their Bahamian subsidiary, FTX Digital Markets. Both parties have agreed to work together to maximize compensation and coordinate claims, ensuring that customers receive essentially the same compensation regardless of where they file their claims. The disposal of Bahamian real estate is considered the highlight of the settlement, as it is believed to return a significant amount of funds to the creditors.
FTX Debtors and Bahamian Subsidiary Initiate Simultaneous Bankruptcy Proceedings, Bahamas Real Estate Up for Sale