On January 31, 2025, FTX Trading Ltd. (FTX.com) and FTX Recovery Trust announced a settlement with venture capital firm K5 Global to resolve a lawsuit filed by FTX in June 2024. FTX said the parties will work together to maximize recovery for FTX stakeholders. FTX's Chapter 11 reorganization plan, approved by the U.S. Bankruptcy Court, took effect on January 3, 2025 and is expected to complete the initial distribution within 60 days.