$FTT FTX Recovery Trust Settles Lawsuit with K5 Global
FTX Recovery Trust and Future Travel Experience Trading Ltd. reached a settlement with K5 Global. The deal settles legal disputes from FTX group’s collapse. This is a significant part of the recovery process.
CEO of FTX Recovery Trust John J. Ray III highlighted its importance. He added that stakeholders would recover losses through K5 Global’s investments. K5 co-founders also went out of their way to praise FTX’s professionalism during its negotiations. Meanwhile, FTX’s Chapter 11 reorganization plan came into effect on January 3 of 2025. Claim holders will actually be awarded the first distribution in 60 days. Payouts are also subject to meeting KYC and other requirements by claimants.