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FTX Proposes an Offshore Exchange for Non-US Users in its Reorganization Plan.

August 1, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Creator: Mustafa Mulla Aug 1, 2023 13:57

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech business since 2017.

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FTX, a cryptocurrency trade, has proposed a plan to ascertain a “rebooted” offshore trade accessible to non-US customers, based on a draft plan submitted to the courtroom. If authorized, the reorganization plan will kind claimants into completely different teams, figuring out FTX.com offshore trade customers as “dotcom clients” and FTX US customers as “US clients”. The plan proposes that every dot com buyer will obtain a pro-rata share of the proceeds from a pool of property related to the FTX.com trade, internet of bills. Claims from non-customers, resembling regulatory penalties and taxes, could be subordinated.

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Tags: ExchangeFTXNonUSOffshorePlanproposesReorganizationUsers
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