U.S. court approves FTX bankruptcy plan

A bankruptcy court in Delaware in the U.S.has approved FTX's bankruptcy plan at a confirmation hearing earlier today, according to the cryptocurrency news specialist X account “@tier10k.” Judge John Dorsey overruled an objection raised regarding the defunct platform’s native FTT token, which has been valued at zero within the bankruptcy process. Both the FTX Debtors and the U.S. Department of Justice (DoJ) are in control of funds and assets relative to the bankruptcy. FTX will work towards introducing a methodology to avoid disputes between preferred shareholders and creditors with the consent of the DoJ.