FTX fallout: Crypto firm says nearly all customers to be repaid

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In the aftermath of the collapse of the cryptocurrency exchange FTX (FTT-USD), whose former CEO Sam Bankman-Fried was convicted of defrauding customers, investors, and lenders, hope emerged for the victims. According to an FTX court filing, almost all of FTX's customers will be able to recover their losses.

FTX owes its creditors a staggering $11.2 billion. However, customers who file claims of $50,000 or less will receive approximately 118% of the amount of their claim, subject to approval by the bankruptcy court overseeing the case.

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This post was written by Angel Smith