{"id":1869,"date":"2024-06-04T08:02:55","date_gmt":"2024-06-04T08:02:55","guid":{"rendered":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/04\/ftx-reaches-24-billion-settlement-in-irs-tax-case\/"},"modified":"2024-06-04T08:02:55","modified_gmt":"2024-06-04T08:02:55","slug":"ftx-reaches-24-billion-settlement-in-irs-tax-case","status":"publish","type":"post","link":"https:\/\/cryptogoldex.com\/index.php\/2024\/06\/04\/ftx-reaches-24-billion-settlement-in-irs-tax-case\/","title":{"rendered":"FTX Reaches $24 Billion Settlement in IRS Tax Case"},"content":{"rendered":"<p>The amount due within 60 days of an implemented court-approved creditor repayment plan is $685 million owed to the IRS, classified as &#8220;lower priority&#8221; and an additional $200 million as a priority payment. The estate can make this payment when funds become available after satisfying customer payments.<\/p>\n<p>The company owes creditors about $12 billion and may be able to repay most customers up to 118% of their holdings, an unusual outcome for a bankruptcy case. Some speculate that the main beneficiaries of this situation are administrators and restructuring personnel, particularly CEO John J. Ray, a bankruptcy veteran.<\/p>\n<p>The embattled firm has approved $500 million in fees for law firms such as Sullivan and Cromwell, Paul Hastings, and Quinn Emanuel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The amount due within 60 days of an implemented court-approved creditor repayment plan is $685 million owed to the IRS, classified as &#8220;lower priority&#8221; and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[564],"tags":[],"class_list":["post-1869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bankruptcy-case"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/1869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/comments?post=1869"}],"version-history":[{"count":0,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/1869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media\/1868"}],"wp:attachment":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media?parent=1869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/categories?post=1869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/tags?post=1869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}