The Blubber

FTX plans to restart its crypto exchange for international customers

The filing, released on Monday night U.S. time, categorizes the claimants into different groups. The initial group comprises claimants from FTX.com offshore exchange, referred to as "dotcom customers". Next are the customers of the U.S. exchange, labeled as "U.S. customers". After that, there are customers of its NFT exchange, followed by general unsecured claims, secured claims, and subordinated claims. Among the general claims are those from Alameda's lenders or trading partners, whereas subordinated claims consist of taxes and fines from penalties.

The priority of these claims will be determined based on "waterfall priorities," with each class receiving a pro-rata payout from the remaining pool once the preceding class is settled. The specific order of payout will be decided after negotiations with stakeholders.

Members of the Dotcom claimants category, who are former customers of FTX.com, have the option to combine their assets to form an "offshore exchange company" or a "rebooted" platform not accessible in the U.S.

"Instead of an all-cash settlement, the Debtors may choose to offer the Dotcom Customer Pool non-cash consideration, such as equity securities, tokens, or other interests in the Offshore Exchange Company, or rights to invest in such equity securities, tokens, or other interests," the document explains, implying that the debtors could provide a stake in the new exchange in place of a cash payout.