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NEW YORK (Reuters) -FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading ...
FTX, which filed for bankruptcy protection in November 2022, said in a court filing that between $14.5 billion and $16.3 billion would be available for distribution.
Since filing for bankruptcy, FTX has recovered up to $16 billion to repay customers, including about $12 billion in cash, and it says it will repay all customer claims in full, with interest.
Logo of FTX. The bankruptcy of FTX, a Bahamas-based cryptocurrency exchange, began in November 2022. The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTX's accounts, [1] served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume ...
(Reuters) -A U.S. court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission said on Thursday.
Because of that, FTX — referred to as a debtor in the bankruptcy case — has "not been able to benefit from the appreciation of these missing tokens during the chapter 11 cases," the press ...
The FTX fallout is continuing, and the latest domino to fall is fellow crypto platform BlockFi, which filed for bankruptcy on Nov. 28, saying this "follows the shocking events surrounding FTX and...
Before its bankruptcy, FTX was one of the largest crypto exchanges in the world, with a number of major traders counted among the company's clients, including Alameda—the trading arm of FTX led ...