Creditors of the collapsed cryptocurrency exchange FTX are poised to receive up to $16.5bn (£12.6bn) under a bankruptcy plan approved in the US on Monday.
The deal will allow former customers to recover a sum worth about 119% of what they had in their accounts at the time of bankruptcy, according to FTX.
https://www.bbc.com/news/articles/c0qz3dg21vqo
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tldr; Creditors of the collapsed cryptocurrency exchange FTX are set to receive up to $16.5bn under a US-approved bankruptcy plan. This follows FTX’s bankruptcy in November 2022, which left millions without access to their accounts. Former boss Sam Bankman-Fried was convicted of stealing funds and sentenced to 25 years. The plan allows customers to recover about 119% of their account value at bankruptcy. Funds are expected 60 days after the plan’s effective date. Assets worth $14.7-$16.5bn have been recovered, partly by selling FTX’s investments.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
119% of the cash that you have while btc was 16k
Dont forget they are the reason why we went so low
Still trying to scam people
By the info I got, FTX customers could be getting funds in next 30-90 days.