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FTX customers are getting back all the money they lost in the crypto exchange’s collapse / The former crypto exchange expects 98% of its creditors to receive approximately 118% of the amount of their allowed claims
The former crypto exchange expects 98% of its creditors to receive approximately 118% of the amount of their allowed claims
Shareholders’ claims will be calculated based on their holdings as of November 2022, when the crypto exchange filed for Chapter 11 bankruptcy. Customers should expect to begin receiving their money within 60 days of the plan’s effective date, which will be set by the court. “We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” said John J. Ray III, CEO and chief restructuring officer of FTX.
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