$16B
Jack Morse
10/8/24
FTX, the crypto exchange that collapsed spectacularly in 2022, is set to fork over billions to its former customers.
On Monday, a federal judge approved a bankruptcy plan from FTX that involves distributing $16 billion in recovered funds. Notably, the repayment is pegged to the value of customers’ crypto at the time of FTX’s demise in November 2022 when bitcoin was worth less than $20,000.
