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Almost all of the creditors of failed crypto company FTX will end up profiting from the money they put into the exchange, a federal bankruptcy judge ruled Monday. Ray, who also shepherded Enron through bankruptcy, added that the estate is working to finalize arrangements to make distributions to creditors around the world.
The loss does not mean the future business, but if they file for bankruptcy, then even the current outstanding AR may turn into a complete loss. It takes startups about 2 to 3 years to become successful and 7-10 to become truly profitable. The next step is often filing a Petition for Chapter 11 bankruptcy protection.
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