According to CoinDesk, FTX is proposing a settlement agreement to pay 90% of the remaining assets after the FTX bankruptcy proceedings to creditors. Lawyers representing some creditors are now working to secure enough investor support to implement this agreement.

Lawyers representing FTX creditors are working to push the bankruptcy case forward with the goal of returning 90% of funds to users. The lawyers must obtain the support of 60 individuals and entities in the creditor group and 75% of investors who register as members in the coming weeks before December 1st. Eversheds Sutherland lawyer Sarah Paul said that even if the settlement plan is approved by creditors, approval from the bankruptcy court is still required. The ultimate goal is to emerge from bankruptcy by around July 2024, at which time users will be able to retrieve funds that have been locked since last year.

Thomas Braziel, a partner at 117 Partners specializing in FTX debt research, said that some FTX debt off-exchange trades have been valued at over 50%, indicating that the market currently expects about half of user assets to be recovered. Last Friday, a debt worth over $20 million was sold at an auction for about 52% of the price, but only "the largest and cleanest debt" could be sold at this price.

Thomas Braziel, who specializes in FTX debt claims, stated that some FTX creditors value their claims at over $0.5. Purchasing a claim gives the holder the right to recover any assets from FTX's bankruptcy estate, and a price above $0.50 indicates that the market currently expects about half of user assets to be recovered. Braziel, a partner at 117 Partners, said that in Friday's auction, claims worth over $20 million were sold at around 52 cents, but only the "largest, cleanest claims" were able to fetch that price. Since the artificial intelligence company Anthropic, which purchased a large stake in FTX, announced several major investments recently, enthusiasm for the value of FTX claims has continued to rise. Creditors hope that selling shares in Anthropic will help return funds to creditors and potentially achieve full recovery. In a January survey of X, most respondents expected a claims payout rate of only 25%. Since then, the FTX debtor estate led by CEO John Ray III has attempted to recover funds, started selling tokens, and liquidated other assets of the estate. Meanwhile, SBF's criminal trial is still ongoing.

The trial of Sam Bankman-Fried is nearing its end, with the prosecution set to conclude their case on October 26 after hearing from almost 20 witnesses. The prosecution has argued that Bankman-Fried intentionally deceived former FTX employees, customers, investors, government officials, and law enforcement agents, resulting in an $8 billion gap between FTX and Alameda Research in November 2022. Bankman-Fried's defense has not yet confirmed whether they will present a case, but if they do, it will begin on October 26. The defense has struggled to present a narrative to jurors, and the prosecution has the burden of proving the alleged crimes.

According to the market data from Eu Yi OKX, the SOL/ETH exchange rate has reached a 23-year high of 0.018 and has returned to the level of November 9, 2022. As previously reported , SOL fell 30% on November 9, 2022 when FTX announced the closure of its withdrawal function.

FTX creditor Sunil posted on X platform to remind users that the FTX withdrawal links received recently are all phishing scams, and specifically pointed out the malicious address "[email protected]". Users are advised to carefully check the sender's address and not click on malicious links.

On October 21st, according to multiple sources, perpetrators who are impersonating FTX officials are sending emails containing fraudulent information to creditors' email addresses. Investors should not believe these emails and should properly safeguard their personal assets.

Can Sun, former general counsel of FTX, testified that FTX's Series C financing began in "late summer and autumn of 2022." An electronic spreadsheet showed that 15 potential investors, including BlackRock, Google, and Apollo, were interested in participating in this round of financing, with the possibility of BlackRock and Google investing being "medium." Both companies conducted due diligence on FTX before it went bankrupt.

October 20th, former FTX general counsel Can Sun testified in the SBF criminal trial, stating that in November 2022, asset management company Apollo Global Management expressed interest in investing in FTX and requested a copy of the financial statements. When the copies were made, Can Sun discovered a $7 billion gap in FTX's balance sheet related to Alameda. Can Sun resigned from the company afterwards. Can Sun previously worked as a lawyer at Fenwick and West and joined FTX in August 2021.