FTX plans to give customers their money back — with one painful caveat
Sam Bankman-Fried.
AP Photo/Seth Wenig
- FTX will pay back 98% of creditors at least 118% of what they're owed, its bankruptcy lawyers said.
- The company forecasts between $14.5 billion and $16.3 billion will be available for distribution.
- But payments will be based on 2022 crypto values, not what assets are worth now amid price surges.
FTX will pay back all its creditors — with interest — lawyers for the defunct crypto exchange vowed Wednesday in a plan to take it out of Chapter 11 bankruptcy.
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