FTX public financial statements or bankruptcy court filings

FTX to Pay Creditors 118% of Claims by Q1 2025; $16.3B Raised

May 8, 2024, 12:58 AM

FTX, the cryptocurrency exchange that collapsed in November 2022, has successfully amassed between $14.5 billion and $16.3 billion through asset liquidation, which exceeds the amount needed to fully compensate its creditors. According to the company's bankruptcy plan, 98% of FTX creditors are set to receive at least 118% of their allowed claims in cash within 60 days of the plan's effectiveness, targeted for Q1 2025. This plan also includes additional billions in compensation for the time value of their investments, aiming for full recovery of the losses incurred during the collapse. Notably, customers with claims under $50,000 represent 96% of the total creditors.