Get the latest tech news
Bankrupt crypto exchange FTX says it will be able to repay creditors full $11bn
CEO confirms once company has sold off remaining assets it will have more than amount required
The bankrupt cryptocurrency exchange FTX has said it will be able to repay creditors the full $11bn (£8.8bn) it owes, as the boom-bust cycle repeats itself with a sharp increase in bitcoin prices. John Ray III, who succeeded the disgraced Sam Bankman-Fried as the chief executive of FTX shortly after its collapse, said that once the exchange had sold off its remaining assets, it might have more than $16bn – well in excess of its debts. FTX has also been helped by its large stake in the artificial intelligence startup Anthropic, formed by a group of former OpenAI staffers who quit after differences with the charismatic chief executive, Sam Altman.
Or read this on r/technology
