On Monday, a US court officially approved the bankruptcy plan for FTX, a crypto exchange. Under this plan, the majority of customers who lost money on the exchange in 2022 will be compensated, and may even receive more than their initial losses.
This plan was drafted in September and received the support of the majority of creditors, as well as the approval of a judge.
The average repayment for customers will be 118% of their holdings at the time the exchange filed for bankruptcy, but some may receive up to 140%.
However, this amount does not account for the gains made by cryptocurrencies such as Bitcoin during this time.
The judge also rejected objections from creditors who wanted to be repaid with cryptocurrencies instead of cash, disputed the valuation of FTT tokens, or claimed they had additional property rights based on FTX’s terms of service.
