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FTX says it will pay back customers
The company also confirmed it will not reboot the cryptocurrency exchange.
During a court hearing on Wednesday, FTX lawyer Andrew Dietderich said the company expects to “have sufficient funds to pay all allowed customer and creditor claims in full.” There are still some challenges associated with getting the lost funds back to customers, though, as Dietderich notes the company will need to comb through all the claims to determine whether they’re legitimate. FTX, which was once one of the largest crypto exchanges, collapsed in November 2022, leading to the arrest of founder and former CEO Sam Bankman-Fried.
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