A judge approved on Monday FTX Trading Ltd.'s bankruptcy plan to fully repay crypto customers in cash with interest. Further, the exchange is able to move forward with its recovery efforts and potential asset sales to repay creditors.
The United States Bankruptcy Court for the District of Delaware ruled that "98% of the creditors of FTX by number will receive approximately 119% of the amount of their allowed claims within 60 days after the effective date of the Plan, subject to know-your-customer and other distribution requirements."
Customers will be repaid based on the value of their cryptocurrency holdings as of November 2022, when FTX filed for bankruptcy.
