FTX Commits to Full Repayment of Customers and Creditors After Bankruptcy

The defunct cryptocurrency exchange FTX has abandoned plans to relaunch and will focus on liquidating assets to repay investors and customers, despite challenges.

• FTX's lawyer announced the company's shift away from relaunching the exchange to fully repaying its customers and creditors during a bankruptcy court hearing.
• Repayment will be based on the crypto asset values at the time of FTX's collapse, not current market values, potentially missing out on recent market gains.
• Customers have expressed dissatisfaction with the repayment calculation method, with some feeling 'aggrieved and robbed'.
• FTX has recovered approximately $7 billion in assets, with more than 36,000 outstanding claims from customers totaling over $16 billion.
• The company's decision to liquidate assets and repay investors marks a significant shift in its insolvency resolution approach.

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