FTX Wins Court Approval to Repay Customers with $16B in Recovered Assets

On Monday, a court gave the green light to FTX's bankruptcy plan, enabling the collapsed crypto exchange to repay its users with $16 billion in recovered assets.

The approval came from U.S. Bankruptcy Judge John Dorsey during a hearing in Wilmington, Delaware.

This plan hinges on various agreements between FTX, its customers, creditors, and government entities, allowing the exchange to prioritize customer repayments.

Once a major player in the cryptocurrency market, FTX’s downfall left millions of users with significant losses.

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The recovery plan promises customers at least 118% of their account value as of November 2022, when the company went bankrupt.

FTX credited its asset recovery efforts, including cash and investments, for making this possible, though some customers voiced frustration about missing out on the recent crypto market rebound.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.