FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The interest rate for most creditors is 9%.
That may be a diminished consolation for investors who were trading cryptocurrency on the exchange when it collapsed. When FTX sought bankruptcy protection in November 2022, bitcoin was going for $16,080. But crypto prices have soared as the economy recovered while the assets at FTX were sorted out over the past two years. A single bitcoin on Tuesday was selling for close to $62,675. That comes out to a 290% loss, a bit less than that if accrued interest is counted, if those investors had held onto those coins.
Related articles:
Related suggestion:
PICTURED: Best friends who died alongside student while 'doing highAntique book archive inaugurated in BeijingInside the lab where volunteers are paid £14,000 to lie upside down for 60 days NONChina's Q1 foreign trade surge signals economic upturnPalestinian death toll in Gaza rises to 32,845: ministryPICTURED: Best friends who died alongside student while 'doing highGiants rally with 3 runs in 7th to beat NLChina issues guideline to boost eThis Morning's Alison Hammond cosies up to mystery man as pals claim she's 'never been happier'Exhibiting how dragon got integrated into Tibetan culture
2.2326s , 6497.9296875 kb
Copyright © 2024 Powered by FTX customers to get money back after catastrophic crypto collapse ,World Wave news portal