Overview

• 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.