Bitcoin
FTX Clients Ready to Recover All Lost Funds, Plus Interest
Customers of the failed cryptocurrency exchange FTX are expected to receive all funds lost during the company’s collapse in 2022, along with interest payments of up to 9 percent, according to a announcement of the firm’s lawyers.
Under a plan proposed Tuesday, creditors holding claims worth $50,000 or less would receive about 118% of their investment back within 60 days of the plan’s effective date. The company said it recovered properties valued at between $14.5 billion and $16.3 billion from assets held by the U.S. Department of Justice, authorities in Australia and the Bahamas and dozens of private entities.