FTX situation latest progress

The cryptocurrency exchange FTX has accumulated billions of dollars of funds, exceeding customers who lost their losses in November 2022, which enables them to get full compensation after the company's bankruptcy. Additional cash will be used to pay the interest of the company's more than 2 million customers. This is a rare result, because in the United States bankruptcy, creditors can usually only get very little money.

According to the company's statement, once the sale of all assets is completed, the company will have as many as $ 16.3 billion in cash to distribute. It owes clients and other non -governmental creditors about $ 11 billion.

According to the court documents submitted by the Tuesday evening that the FTX case is dealing with the FTX case, the Fedeumi Federal Court of Fedeum, although all the debts will be repaid in full and the interest will be added, and the shareholders will not leave anything.

According to the type of debt in the case, some creditors can get up to 142%of the arrears. However, the vast majority of customers may receive 118%compensation obtained on the FTX platform on the day of chapter 11 bankruptcy.

The company is currently operated by a restructuring consultant and proposed to set up a fund to pay funds to some creditors (including creditors who borrowed FTX cryptocurrencies), otherwise these funds will flow to government regulators.

As FTX gradually enters the final stage of the bankruptcy case, payment may take several months.

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