FTX revises bankruptcy court motion to expedite crypto claim settlements

FTX Trading Ltd. has filed a revised motion seeking bankruptcy court approval of streamlined procedures to settle small claims against the bankrupt cryptocurrency exchange.

In the filing with the U.S. Bankruptcy Court in Delaware, FTX asked Judge John Dorsey to authorize the company to settle claims up to $7 million without needing his approval of each settlement. FTX said the procedures are necessary to efficiently resolve the “myriad” of potential claims against the estate.