_ftx-recovers-billions-to-repay-crypto-exchange-collapse-victims.jpg "FTX Recovers Billions to Repay Crypto Exchange Collapse Victims from irs 1028 Video Screenshot Preview")
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⏲ Duration: 0:42
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✓ Published: 10-May-2024
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✓ Published: 10-May-2024
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FTX has recovered billions more than needed to fully repay customers who lost funds when the crypto exchange collapsed in November 2022. Once it sells all assets, FTX will have approximately $16 billion cash versus the $11 billion it owes to over 2 million non-governmental creditors. This is an unprecedented result as bankruptcy typically yields just pennies on the dollar for lower-ranking creditors. FTX benefited from rallies in endorsed tokens like Solana, allowing repayment in full plus interest.
FTX has recovered billions more than needed to fully repay customers who lost funds when the crypto exchange collapsed in November 2022. Once it sells all assets, FTX will have approximately $16 billion cash versus the $11 billion it owes to over 2 million non-governmental creditors. This is an unprecedented result as bankruptcy typically yields just pennies on the dollar for lower-ranking creditors. FTX benefited from rallies in endorsed tokens like Solana, allowing repayment in full plus interest.
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