FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them. The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The interest rate for most creditors is 9%. That may be a diminished consolation for investors who were trading cryptocurrency on the exchange when it collapsed. When FTX sought bankruptcy protection in November 2022, bitcoin was going for $16,080. But crypto prices have soared as the economy recovered while the assets at FTX were sorted out over the past two years. A single bitcoin on Tuesday was selling for close to $62,675. That comes out to a 290% loss, a bit less than that if accrued interest is counted, if those investors had held onto those coins. |
NASA's historic Mars helicopter Ingenuity grounded for good after 72 flightsCouple waits for categorisation of floodHomes catch fire as lava spills onto town in IcelandMotorcyclist seriously injured after crash in AucklandScrapping NZ battery project 'shortSpirit down Dash 3Chinese tourist tower overlooking North Korea could be demolished — Radio Free AsiaSensitive NZ Police video evidence shuffled around US tech companiesChinese tourist tower overlooking North Korea could be demolished — Radio Free AsiaNairobi fire: At least 29 injured in Kenya gas plant explosion