Customers of the bankrupt cryptocurrency exchange FTX are set to receive all of the funds lost during the firm’s 2022 collapse, along with interest payments of up to 9 percent, according to an announcement from the firm’s lawyers.
Under a plan proposed Tuesday, creditors who held claims in the amount of $50,000 or less would get about 118 percent of their investment back within 60 days of the plan’s effective date. The company said it recovered property valued between $14.5 billion and $16.3 billion, drawn from assets held by the U.S. Justice Department, authorities in Australia and the Bahamas, and dozens of private parties.
