FTX plans bonuses of up to 94% for developers

The crypto exchange FTX, currently in bankruptcy proceedings, wants to introduce a $4 million bonus program to prevent layoffs of key employees. This is stated in материалах судебного дела.

CEO John Ray proposed pay raises ranging from 17% to 94% of salaries for those who are proficient in programming or methods of accounting.

“These remaining staff possess institutional knowledge, and in some cases a unique set of skills that would be hard to replace. They are critical to [FTX]’s objectives in the current situation”, the statement said.

Most of the bonus will go to programmers working in Python, Rust and Flutter. The document also states that bonuses will not be paid to directors or officers of the company, former CEO Sam Bankman-Fried and his family, or any staff suspected of wrongdoing.

Hearings on the proposal are scheduled for March 29 in a Delaware state court, United States.

Earlier, FTX Group sent private letters to politicians demanding the return of donations previously received from the former CEO of the exchange.

In February the court approved the sale of the platform’s low-value assets. In the same month, the company’s lawyers sent to the court a full creditors’ list, running more than 100 pages. It includes Apple, Netflix and Amazon.

In early March, John Ray said there was a “substantial capital deficit” for the platform.