Cryptocurrency exchange FTX has $16.3bn cash to cover customer losses and pay creditors.

Cryptocurrency exchange FTX has accumulated billions more than required to cover its customers' losses during its November 2022 collapse. The company now has around $16.3bn in cash, which is enough to pay back all its non-governmental creditors and provide interest to its over 2 million customers. This outcome is rare, as creditors typically only receive pennies on the dollar in US bankruptcies.

May 07, 2024
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