FTX to Repay $16 Billion to Customers After Court Approves Bankruptcy Plan

The plan ensures 98% of FTX creditors will receive over 100% of their claims, marking a significant recovery from the 2022 collapse.

FTX's bankruptcy plan, approved by a Delaware judge, allows the repayment of $16 billion to affected customers using recovered assets.
Customers will receive at least 118% of their account values as of November 2022, with payments expected within 60 days of the plan's effective date.
The plan prioritizes customer repayment over other creditors, including government claims, following settlements with various stakeholders.
FTX's recovery was aided by asset sales and a favorable crypto market, although some customers are dissatisfied with cash repayments based on 2022 asset values.
FTX founder Sam Bankman-Fried is serving a 25-year sentence for fraud, and the company continues to resolve issues with the U.S. Department of Justice over seized funds.