May 8, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as bankrupt exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims in cash.

Video transcript

FTX creditors could get back more than they were expecting. And Rob Gronkowski to pay almost $2 million in a crypto settlement. You're watching Coindesk Daily, I'm your host, Jen Sei. Nearly all FTX creditors will get 100 and 18% of their funds back in cash. That's according to the estate, the bankrupt exchange proposed a new reorganization plan that would see 98% of creditors get their money back under the plan. Other non governmental creditors would get back 100% of their claims plus up to 9% in interest. The arrangement is still subject to approval by the Delaware Bankruptcy Court, former NFL star and Tom Brady wrote. Rob Gronkowski will pay $1.9 million to settle claims brought against him by former customers of Voyager Digital. The settlement is still subject to approval by the court overseeing the civil lawsuit and would require the former New England's Patriot tight end to pay into a $2.4 million pool alongside other brand ambassadors. Voyager filed for bankruptcy in 2022 and the UK Minister says the government only has time to implement stablecoin and state legislation and Economic Secretary Bim AFO Lai said at the Financial Times Crypto and Digital Asset Summit that he's very confident the government will be able to achieve secondary legislation around staking in stable coins. Adding that they are absolute priorities. An election is expected to occur in the second half of this year leaving little time for the current ruling party, the Conservatives to implement all of the crypto measures. They promised that's it for coin desk daily. Get more updates on and we'll see you next time.

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