FTX, the cryptocurrency exchange that collapsed in November 2022, has announced a significant recovery plan for its creditors. According to the company's amended reorganization plan filed in a US bankruptcy court, FTX has collected between $14.5 billion and $16.3 billion in assets, now converted to cash and available for distribution. This amount significantly exceeds the approximately $11 billion owed to customers and other non-governmental creditors. As a result, 98% of FTX's creditors are set to receive at least 118% of their allowed claims in cash within 60 days of court approval, along with interest payments up to 9%. Additionally, the plan includes billions in compensation beyond the initial claims, pending court approval.
FTX has billions more than needed to pay bankruptcy victims https://t.co/J4FvoJqpIP
Most #FTX Creditors to Receive Over 100% Repayment, Court Document Shows #NewsBytes https://t.co/mle0fitZQU
FTX says most customers will get all their money back https://t.co/A1WAZmJOA9
It’s not a full refund because the crypto would have been worth more than double today. #SBF $FTX #FTX https://t.co/v6R3Gcl2q7
🇺🇸FTX: MOST CUSTOMERS TO GET THEIR MONEY BACK In a court filing, FTX stated that almost all customers of the collapsed crypto exchange will receive full reimbursement—and more. Customers with claims of $50,000 or less will receive around 118% of their allowed claim, while FTX… https://t.co/kwFQyo3J90
NEW: Bankrupt FTX to pay customers $15 billion in recovered cash - CNBC ‼️FTX is not paying customers in "FULL" as reported. Bitcoin is up almost 4x since hitting $15.5K low in the bear market and is now just above $62,000. FTX will compensate customers in US dollars at… https://t.co/jwyjMDx9ck
Customers of the bankrupt cryptocurrency exchange FTX are set to receive all of the funds lost during the firm’s 2022 collapse, along with interest payments of up to 9 percent, according to an announcement from the firm’s lawyers. https://t.co/avIikslZC3
JUST IN: FTX says almost all customers of the bankrupt crypto exchange will get full refunds, CNBC reports.
FTX said Tuesday it had recovered assets associated with the exchange at the time of its collapse with an estimated value of between $14.5 billion and $16.3 billion. https://t.co/OI33tQ0UK0
FTX refunds gonna inject a ridiculous amount of liquidity into crypto
Flashback: FTX may be able to repay all customers and creditors https://t.co/uGAZRPvcKm
ICYMI: FTX creditors to get 118% of their lost funds back in new proposed settlement. Funds will be distributed within 60 days of court approval. https://t.co/pVeWtcXJa8
❖ COLLAPSED FTX SAYS IT CAN PAY MOST CREDITORS BACK IN FULL FTX 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. “The plan contemplates payment in full of all… https://t.co/uxqYforFSM
A new, amended reorganization plan could see almost all all FTX creditors get back more than lost – in cash, @CheyenneLigon reports. https://t.co/xDUpwhOgsF
FTX customers are poised to recover all of the money they lost in 2022 collapse of crypto exchange, bankruptcy lawyers reveal https://t.co/VHLwGXkzNZ https://t.co/LOqORHJMNU
BREAKING: FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries, per Bloomberg.
FTX says most customers of the bankrupt crypto exchange will get all their money back https://t.co/Sxy3jTVMya
FTX crypto fraud victims to get their money back — plus interest: https://t.co/CUj9D7keQh by TechCrunch #infosec #cybersecurity #technology #news
FTX crypto fraud victims to get their money back — plus interest https://t.co/yDMgyDfjnY
💥BREAKING💥 98% of FTX creditors will receive at least 118% of allowed claims in cash within the next 60 days That’s around $15 BILLION in cash Just remember that $12 Billion of net inflows in the #Bitcoin ETFs made $BTC go up from $45,000 to $74,000 (+$500 billion in market…
FTX intends to reimburse 98% of its creditors up to 118% of their claims in cash . Find out more details below. https://t.co/uKlL12YP2H #FTX | #Crypto | #News
🔥 FTX Offers Creditors a 118% Refund The collapsed exchange @FTX_Official has proposed a new compensation plan under which 98% of creditors will receive at least 118% of their claims within 60 days of court approval. The remaining platform customers will receive a 100% refund.… https://t.co/zUUjE3sJvC
#FTX creditors with $50k or less in claims to receive 118% compensation in cash 💰💸 Click below to find out more ⬇️⬇️⬇️ https://t.co/Zc72UMwApr https://t.co/BiRLGZ1TcM
Bankrupt cryptocurrency exchange FTX has amassed billions in extra money to fully repay its 2 million customers, marking a new twist in bankruptcy proceedings https://t.co/AmmnP0iR6L
FTX Customers Poised to Recover All Funds Lost in Collapse https://t.co/QfN4D3MqBb
98% OF FTX CREDITORS WILL BE GETTING 118% OF THEIR MONEY BACK: WHAT WE KNOW - FTX has announced a reorganization plan to compensate 98% of its creditors with at least 118% of their allowed claims. This rate significantly surpasses earlier projections. - Between $14.5 billion… https://t.co/K4rCsnON1m https://t.co/rsB9o4qA2D
UPDATE: 98% OF FTX CREDITORS ARE EXPECTED TO RECEIVE APPROXIMATELY 118% OF THEIR ALLOWED CLAIMS
Breaking News: Customers of the failed cryptocurrency exchange FTX are poised to recover all of the money they lost in 2022 and receive interest on top of it. https://t.co/JxkZHe23vL
A new, amended reorganization plan from the FTX estate would see 98% of FTX creditors get 118% of their money back – in cash. @cheyenneligon reports. https://t.co/YDS7GlIpKa
FTX says it has billions more than owed to victims https://t.co/BZvnMQpWjF
Crypto exchange FTX will have between $14.5 billion to $16.3 billion to pay its creditors and customers, according to an amended reorganization plan filed by the company in a US bankruptcy court https://t.co/rVEdzpN6Ye
Crypto exchange FTX will have between $14.5 billion to $16.3 billion to pay its creditors and customers, according to an amended reorganization plan filed by the company in a US bankruptcy court. More here: https://t.co/laKFGWLHRS
FTX plans to pay billions more to creditors for compensation https://t.co/ctfG3bdNFN
Most FTX account holders will get their money back after bankruptcy https://t.co/ixU7srGIii
FTX customers to get repaid in full, plus interest! largely due to crypto prices https://t.co/87yEXcIbiv
#FTX Has Billions More Than Needed to Pay Bankruptcy Victims: https://t.co/EvlEQl0NrP
🚨 NEWS: @FTX_Official have collected between $14.5 to $16.3 billion in cash for distribution. If approved by the bankruptcy court, 98% of FTX's creditors will receive approximately 118% of their allowed claims within 60 days. https://t.co/UlNNRQHQwt
FTX expects the total value of property collected, converted to cash and available for distribution to be between $14.5 billion and $16.3 billion. If approved by the bankruptcy court, 98% of FTX's creditors will receive approximately 118% of their allowed claims within 60 days of…
FTX says it will have as much as $16.3B to distribute once it finishes selling all of its assets; it owes customers and other non-governmental creditors ~$11B (@schurch33 / Bloomberg) https://t.co/vuIY0m2ZuQ 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/ziEIjfNFPc
📣 Latest News: FTX plans full pay back all creditors ‘plus billions in compensation' #news #cryptonews #crypto
Bankrupt @FTX_Official plans to offer 98% of creditors a 118% payout “plus billions in compensation” to the rest. https://t.co/EmnLJXH9Jt
FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries under the company’s bankruptcy - Bloomberg
FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries https://t.co/Da19Ni9ns8
BREAKING: FTX forecasts that the total value of property collected, converted to cash and available for distribution to creditors in their bankruptcy case will be between $14.5 and $16.3 billion 👀 https://t.co/gEU4zbYN0W
Good good GOOD! The numbers won’t equate to FTX creditors just holding onto their assets. But allowing people to get more than 100% of their claim value from the time of bankruptcy is a move in the *Morally Correct* direction https://t.co/qCCvh9RAE0
BREAKING: 98% OF FTX CREDITORS TO RECEIVE AT LEAST 118% OF ALLOWED CLAIMS IN CASH WITHIN 60 DAYS OF EFFECTIVENESS https://t.co/RFbKbfAS0U
FTX- 98% OF FTX CREDITORS TO RECEIVE AT LEAST 118% OF ALLOWED CLAIMS IN CASH WITHIN 60 DAYS OF EFFECTIVENESS - RTRS