FTX Dockets

Order - Extend exclusivity period to file a plan and solicit acceptances. The exclusive filing period is extended 69 days, until May 13, 2024 and the exclusive solicitation period is extended for 38 days, until July 11, 2024. The debtor previously filed a motion seeking a fourth extension to the exclusivity period. They seek an additional 69 days to their exclusive filing period and an extra 38 days to their exclusive solicitation period. The proposed new deadlines to file and solicit a plan are May 13, 2024 and July 11, 2024, respectively. The Motion to extend specific mentions that the Debtors antipate paying third party customers and general unsecured creditors 100% of their allowed claims over time, measured at petition time value and subject to voluntary subordination of large government claims. Since the previous extension to exclusivity the debtor has accomplished: 1) a global settlement with FTX Digital Markets and the joint liquidators of such and 2) progressed toward a consensual agreement with FTX Australia.

FTX Europe AG is authorized to enter into and perform under a Share and Asset Purchase Agreement with Patrick Gruhn, Robin Matzke, Lopem Ipsum RM UG and CredoMedia GmbH. The purchaser will receive 100% of the share capital of FTX EU Ltd., FTX Switzerland GmbH, FTX Trading GmbH, FTX Certificates GmbH, and FTX Structured Products AG. The purchaser will receive certain minority interests in non-debtor entities as well. The purchaser wiill also receive FTX Crypto Services Ltd. The FTX Europe subsidiaries Chapter 11 cases will be dismissed.

Motion - approve compromise with Blockfi. Global settlement with Blockfi grants Blockfi a partially secured claim against FTX in the amount of $250m with the remainder of their loan claim allowed as a general unsecured claim ($439.3m and $185.2m). In exchange Blockfi has agreed to bring over $600m of sales proceeds from the Robinhood Markets, Inc. Class A shares which was collateral for the BlockFi loans. BlockFi will also release certain jointly held Solana and Serum tokens worth $100m.