FTX Asks Judge for Six More Months to Propose Bankruptcy Plan

FTX Trading Ltd., the defunct crypto exchange founded by Sam Bankman-Fried, wants six more months to propose a Chapter 11 reorganization plan, saying it needs the additional time to continue sorting out its finances following its downfall last year.

The company is asking to have until Sept. 7 to propose how it will reorganize, after its initial exclusive period to file a plan was set to expire March 11, according to a motion filed Friday in the US Bankruptcy Court for the District of Delaware. If FTX loses exclusivity, other parties, like FTX account holders, could submit their own plan ...