collapsed exchange for cryptocurrencies According to FTX, it has billions of dollars more than it requires to pay back its clients.
The company claims that after selling off its remaining assets, it will have up to £16.3 billion (£13 billion) available to pay down its debt, which currently totals about $11 billion.
According to the company’s recently announced reorganization plan, nearly all of its clients will receive at least the full amount they lost when FTX failed in November 2022.
Sam Bankman-Fried, a co-founder of FTX, was given a 25-year prison term in March of this year for scamming investors and consumers of the now-bankrupt company.
