Cryptocurrency exchange FTX declared bankruptcy in November last year, initiating a lengthy legal battle and bankruptcy liquidation process. The FTX bankruptcy liquidation team recently submitted a revised restructuring plan, intending to repay customers and creditors billions of dollars in cash. However, this move has sparked controversy.

According to the FTX bankruptcy liquidation team, the value of creditors’ cryptocurrency assets will be calculated based on the market price on November 11th of the previous year (the day FTX filed for bankruptcy). Since the cryptocurrency prices were significantly lower at that time compared to the current market prices, this means that if the plan is approved by the court, creditors may potentially lose millions of dollars in potential profits.

Nevertheless, in another statement, the bankruptcy liquidation team expressed that the latest plan aims to “maximize and efficiently allocate funds to all creditors.”

As for whether FTX will relaunch and how the company will assess the value of certain tokens, as well as the amount of funds creditors can expect to recover, these questions were not addressed in the latest restructuring plan.