In a significant development for the crypto industry, a Delaware bankruptcy court has approved a plan for FTX to return more than $14 billion worth of assets to its creditors. The embattled cryptocurrency exchange, which filed for bankruptcy protection in November 2022, previously estimated that it owed creditors around $11.2 billion. The approved plan will see 98% of creditors receiving 119% of the value of their allowed claims as of the bankruptcy filing date, reflecting a remarkable recovery for affected parties.

Recouping Billions for Distribution