Altss Research / Venture case 20
FTX
FTX’s confirmed Chapter 11 plan took effect in January 2025, placing the debtors’ assets into the FTX Recovery Trust for creditor recoveries.
Altss Research · Evidence reviewed · Historical event record
Historical private valuation
$32bnFTX Trading announced a completed $400 million private Series C at a $32 billion valuation.
Wind-down
No sale priceRecovery trust established under wind-down plan. A filed Recovery Trust notice confirms the plan became effective and all debtor assets vested in the trust on January 3, 2025. This records the estate’s wind-down structure, not completion of every creditor payment.
These figures have different valuation bases and dates. Their difference is not a measure of investor losses. Methodology ↗
The documented timeline
Private financing completed
FTX Trading announced the Series C; its separate U.S. affiliate had its own financing and valuation.
Plan became effective
The FTX Recovery Trust, also described as the Consolidated Wind Down Trust, was established and received the debtors’ assets.
Source documents
Publication and access dates identify the evidence used for this case.
FTX Trading / PR Newswire · Primary source · Published Jan 31, 2022 · Accessed Oct 26, 2026
FTX Recovery Trust / U.S. Bankruptcy Court filing · Primary source · Published Sep 2, 2025 · Accessed Oct 26, 2026
Logo: FTX logo source. Company trademark rights remain.