FTX To Return All Customer Funds Following Collapse

Quick Summary:

The new reorganization plan is pending finalization and approval from the bankruptcy court.

At the time of the collapse, it was believed that billions of dollars worth of customer deposits in FTX would likely never be recovered.

The announcement was likely welcomed by former customers, whose money was locked up amid court proceedings.

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Article Details

Author / Journalist: Rocio Fabbro

Category: Technology

Markets: United States

Topics: Joseph bankman Sam bankman fried Bankruptcy of ftx Corporate crime United states v bankman fried Ftx Cryptocurrency exchange John j ray iii Chapter 11 title 11 united states code Cryptocurrency Bankruptcy Business finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-08 @ 13:10:18 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: gizmodo.com

Language: English

Article Length: 348 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Gizmodo

News ID: 20915795

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Main Topics: Technology

Official Website: gizmodo.com

Update Frequency: 6 posts per day

Year Established: 2002

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

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Publisher ID: #30

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