💨 Abstract

FTX's bankruptcy plan, approved by a US court, will enable the crypto exchange to fully repay customers using $16 billion in recovered assets. The plan, built on settlements with customers, creditors, and regulators, prioritizes repaying customers before addressing competing claims. FTX's customers will receive at least 118% of their account value as of November 2022.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖