This agreement between the parties offers a solution in favor of both sides in order to cope with international legal challenges related to the collapse of the FTX group. Within the scope of the settlement, cooperation will be made on the collection of assets and the creation of reserves, which will allow simultaneous refund to users.

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The valuation of cryptocurrencies owned by the customers who are creditors from the exchange will be made according to the date the bankruptcy application was made.

FTX.com customers should be cautious that the Global Settlement Agreement has not been approved by any court and can change concretely.

FTX CEO John J. Ray III continued his sentence by stating that he thinks about his customers:

I’m excited that we were able to reach a settlement that is so clearly in the interest of the customers.

Last weekend, new management of FTX along with new CEO John J. Ray III applied to court in the US with a proposal to end the bankruptcy process.

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