FTX (cryptocurrency exchange) - Footnote 44

Note: The source mentions that creditors would be paid back in cash with claims pegged to the value of crypto on November 11th, 2022, the date of the bankruptcy. It also mentions that Bitcoin was around $17,000 at that time. However, the source does not mention prices above $100,000 by late 2024. It states that by the time of the approval hearing for the plan, Bitcoin had bounced back to roughly $60,000. The source mentions objections were raised about the lead bankruptcy counsel, Sullivan & Cromwell, on conflict-of-interest grounds, including from a bipartisan group of U.S. senators, not from bipartisan U.S.