Most FTX Creditors to Receive Over 100% Repayment, Court Document Shows

FTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with claims up to $50,000, with all remaining creditors also receiving full payment. The plan follows the notorious collapse of FTX in November 2022, which resulted in founder Sam Bankman-Fried (SBF) being convicted of fraud and receiving a 25-year prison sentence.

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