FTX Reveals It Has More Than Needed to Repay Victims After Collapse

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The collapsed crypto exchange FTX claims to have surplus funds exceeding the amounts required for reimbursing its customers. The company states that it expects to have up to $16.3 billion after selling its remaining assets to pay down its debt, which is estimated to be approximately $11 billion.

The company’s new restructuring proposal assures nearly all of its clients will recover at least their entire losses incurred during FTX’s collapse in 2022. Earlier this year, Sam Bankman-Fried, one of FTX’s cofounders, received a 25-year prison sentence for deceiving investors and customers of the…

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