FTX Plans to Repay Customers in Full, Drop Exchange Relaunch
- FTX updates bankruptcy judge on crypto firm’s payout plan
- Advisers abandon bid to revive now-shuttered exchange
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Customers and creditors of bankrupt crypto exchange FTX who can prove their losses will likely get back all of their money, the company told the judge overseeing the insolvency case.
Restructuring advisers will need to examine the millions of claims that have been filed against FTX to weed out those that are not legitimate, lawyer Andrew Dietderich said during a Wednesday court hearing in Wilmington, Delaware.