FTX has decided to repay its customers in full. According to Bloomberg reports, the bankrupt cryptocurrency exchange informed the bankruptcy judge that creditors and customers who can demonstrate their losses will probably be refunded with the full amount.
FTX discards plans to restart the crypto exchange
After two years of struggling to reach an agreement, FTX has finally decided to pay for all the losses incurred by its customers.
During a court hearing on Wednesday in Wilmington, FTX’s attorney Andrew Dietderich stated that restructuring advisers would have to go through each of the millions of claims that have been made. This would precisely help eliminate those that are not genuine.
According to Reuters reports, FTX has retrieved over $7 billion in assets to repay its customers. Additionally, it has made agreements with different government agencies, who have committed to hold off on pursuing collection on around $9 billion in claims until after customers have been fully refunde
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