FTX Wins Court Approval to Repay Customers with $16B in Recovered Assets
07.10.2024 22:35 1 min. read Alexander Stefanov
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.
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.
-
1
Warren Buffett Narrows His Bets as He Prepares to Step Down
14.06.2025 16:00 2 min. read -
2
Why Gold Could Be the Smart Play Amidst US Debt Surge
11.06.2025 11:00 1 min. read -
3
MEXC Sets Up $100M Emergency Fund to Protect Users From Major Security Incidents
12.06.2025 11:00 1 min. read -
4
NFTs Quietly Evolve Into Core Digital Infrastructure
13.06.2025 17:00 2 min. read -
5
Peter Thiel-Backed Bullish Quietly Files for IPO as Crypto Firms Eye Wall Street
11.06.2025 22:00 1 min. read
Key U.S. Events to Watch This Week That Could Impact Crypto
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Here Is How Your Crypto Portfolio Should Look Like According to Investment Manager
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
GENIUS Act Could Reshape Legal Battle over TerraUSD and LUNA Tokens
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase Surges 43% in June, Tops S&P 500 After Regulatory Wins and Partnerships
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.
-
1
Warren Buffett Narrows His Bets as He Prepares to Step Down
14.06.2025 16:00 2 min. read -
2
Why Gold Could Be the Smart Play Amidst US Debt Surge
11.06.2025 11:00 1 min. read -
3
MEXC Sets Up $100M Emergency Fund to Protect Users From Major Security Incidents
12.06.2025 11:00 1 min. read -
4
NFTs Quietly Evolve Into Core Digital Infrastructure
13.06.2025 17:00 2 min. read -
5
Peter Thiel-Backed Bullish Quietly Files for IPO as Crypto Firms Eye Wall Street
11.06.2025 22:00 1 min. read