FTX customers are set to recover all funds lost, plus interest


Customers of the bankrupt cryptocurrency exchange FTX are set to receive all of the funds lost during the firm’s 2022 collapse, along with interest payments of up to 9 percent, according to an announcement from the firm’s lawyers.

Under a plan proposed Tuesday, creditors who held claims in the amount of $50,000 or less would get about 118 percent of their investment back within 60 days of the plan’s effective date. The company said it recovered property valued between $14.5 billion and $16.3 billion, drawn from assets held by the U.S. Justice Department, authorities in Australia and the Bahamas, and dozens of private parties.

Share post:


More like this

Washington State labor leaders march on Boeing picket line

Tim Wheeler/People's World SEATTLE—The 300 delegates to the Washington State...

ManTech elevates insider to intelligence VP

ManTech International has promoted from within its own ranks...

Out in the World: LGBTQ news from Europe and Asia

UNITED KINGDOM British Prime Minister Rishi Sunak called a long-anticipated...