FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.
FILE - The FTX logo appears on home plate umpire Jansen Visconti's jacket at a baseball game with the Minnesota Twins on Sept. 27, 2022, in Minneapolis. Failed cryptocurrency exchange FTX says that nearly all of its customers will receive the money back that they are owed, and some will get more than that, according to its reorganization plan. FTX said in a court filing Tuesday, May 7, 2024 that it owes about $11.2 billion to its creditors.
Customers and creditors that claim $50,000 or less will get about 118% of their claim, according to the plan, which was filed with the U.S. Bankruptcy Court for the District of Delaware. This covers about 98% of customers. The company appointed as its new CEO John Ray III, a long-time bankruptcy litigator who is best known for having to clean up the mess made after the collapse of Enron.
Sam Bankman-Fried Technology Stephen Curry U.S. News Tom Brady Business
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX says most customers will get all money back, less that 2 years after catastrophic collapseFTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.
Read more »
FTX says most customers will get all money back, less that 2 years after catastrophic collapseFTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.
Read more »
Satoshi's Ally Predicts Epic $15 Billion Bitcoin Buy With FTX MoneySatoshi's ally, Adam Back, predicts monumental $15 billion Bitcoin buying spree fueled by recovered FTX assets
Read more »
FTX says most customers of the bankrupt crypto exchange will get all their money backFTX estimates that it owes creditors around $11.2 billion. FTX said it has between $14.5 billion and $16.3 billion to distribute to creditors.
Read more »
Collapsed FTX says it can pay most creditors back in fullFTX has recovered enough assets to pay most of its creditors back in full, the failed crypto exchange said late Tuesday as it unveiled a proposed reorganization plan.
Read more »
Netflix Tom Brady roast hits FTX loss and GronkDuring the roast of Tom Brady on Netflix over the weekend, the former NFL quarterback took several hits over his connection with now-bankrupt crypto exchange FTX.
Read more »