Solana (SOL) NFTs Restored for FTX Claimants, FTT Token Holders Left Empty-Handed

• FTX’s bankruptcy estate has announced that creditors and customers are likely to receive between $14.5 billion to $16.3 billion in total compensation.
• However, this does not include payouts for holders of FTX’s ill-fated FTT token, which are to be “canceled or released”.
• Meanwhile, those with NFTs currently trapped in the FTX NFT platform due to the company’s collapse are set to receive the assets back.

FTX’s bankruptcy estate has revealed a compensation plan for creditors and customers, but holders of the ill-fated FTT token are left out. Meanwhile, trapped NFTs are set to be returned to their owners.

Details of the Compensation Plan

The plan, filed in Delaware bankruptcy court, states that around 98% of FTX creditors with allowed claims less than $50,000 will receive 118% of what they’re owed if the plan receives court approval. This payment represents a little interest on top of funds customers lost 18 months ago when crypto prices were broadly much lower than they are now. Creditors and customers who lost FTT in FTX’s collapse were previously set to receive cash payments based on their holdings, according to an FTX reorganization plan filed last December. The plan also stipulates that NFT-related claims would see their corresponding JPEGs returned.

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