Bankruptcy judge approves FTX’s reorganization plan

A bankruptcy judge has approved FTX's reorganization plan, paving the way for the defunct crypto exchange to repay users. 
The plan, approved on October 7th, aims to reimburse 98% of users with approximately 119% of their claimed account value. This comes almost two years after FTX filed for bankruptcy in November 2022, following a collapse that resulted in criminal indictments and civil lawsuits. The plan, however, has been criticized for not accounting for token gains between November 2022 and 2024. Critics argue that users will only receive 10-25% of their cryptocurrency's value back. The decision marks a significant step forward in reimbursing FTX users, but the full impact on the recovery of user funds remains to be seen.