FTX says that nearly all of its customers will receive the money back they are owed, two years after the cryptocurrency exchange imploded.
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. In an anticipated amended Plan of Reorganization filed in a U.S. bankruptcy court late Tuesday, the exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to customers and other creditors around the world.
FTX was the third-largest cryptocurrency exchange in the world when it filed for bankruptcy protection in November 2022 after it experienced the crypto equivalent of a bank run. CEO and founder Sam Bankman-Fried resigned when the exchange collapsed. In March he was sentenced to 25 years in prison for the massive fraud that occurred at FTX.
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