The bankrupt cryptocurrency exchange FTX announced in December last year that its court-approved restructuring plan is scheduled to take effect on Jan. 3, 2025. As part of the plan, initial repayments to priority claimants are expected to begin within 60 days of this date.
Taiwan-based digital asset management platform Steaker, which was affected by the FTX bankruptcy, has been striving to mitigate the impact of the collapse on its operations and users. In response, the company introduced the “Dawn Project,” a compensation initiative that has achieved a settlement rate of over 85% to date, reflecting steady progress in resolving challenges arising from the incident.
Since the project’s launch, Steaker has adhered to a monthly compensation schedule as outlined in its public updates. The company has also collaborated with relevant parties in the US to facilitate the full implementation of the project and safeguard the interests of affected users.
Photo courtesy of Steaker, a Digital Asset Management Platform
As an impacted platform, Steaker emphasized its commitment to responsibility and fairness. Nearly two years after the FTX incident, the company confirmed that, neither Steaker nor its founder has been formally indicted related to the case. Steaker continues to engage with relevant authorities and remains fully committed to complying with all applicable laws and regulations.
To ensure faster compensation delivery, Steaker urged users interested in joining the project to promptly complete the required documentation. Doing so helps streamline the process and enables the company to expedite compensation once repayments are issued by FTX.
For users already participating in the project, Steaker reminded them to verify that their exchange wallets designated as the EOA (Externally Owned Account) address for receiving compensation are valid, as exchanges may update wallet addresses. Ensuring accuracy is crucial to prevent users from failing to receive their compensation.
Photo courtesy of Steaker, a Digital Asset Management Platform
Steaker expressed gratitude to its users for their trust and support. The company stated, “We appreciate the continued patience and encouragement of our users as we work diligently to ensure fair and timely compensation.” Positive feedback from users has motivated the team and strengthened trust in Steaker’s efforts.
The company added that it is closely monitoring developments in the FTX bankruptcy proceedings and will provide updates to users as soon as specific repayment details are available. Compensation arrangements will be processed promptly upon confirmation.
For further inquiries, users can contact Steaker at hello@steaker.com.
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