3 months ago🥲FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using $16 billion in assets recovered since the once-leading crypto exchange collapsed.
U.S. Bankruptcy Judge John Dorsey approved the wind-down plan at a court hearing in Wilmington, Delaware.
The settlements allow FTX to use its assets to repay customers of its crypto exchange first, before paying potentially competing claims filed by government regulators.
US judge ruled FTX’s plan will pay its customers at least 118% of the value in their accounts as of November 2022, the date that the company filed for bankruptcy.
The price of bitcoin at the time of FTX bankruptcy was $16,080, ETH $900, Solana $14.12.
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