Bankrupt Cryptocurrency Exchange FTX has announced that it will refund all its customers who lost a total of $11 billion

Cryptocurrency markets will become one of the largest stock exchanges in the world by 2022. on FTX He was shocked by what happened. In November of that year, the company began to collapse due to liquidity problems and mismanagement of funds, for example, and quickly went bankrupt. After all this, investors lost about $11 billion. CEO a few months ago Sam Bankman-Fried We’ve seen him sentenced to 25 years in prison for seven separate fraud and money laundering offences.

FTX has been planning to reorganize for some time. This included the sale of all remaining assets. Similar refund customers who have lost money could do it. However, there weren’t many details about whether this would actually happen and how much the company’s assets would be worth. An assertive statement has been made on this subject.

FTX claims it will have as much as $16 billion if it sells all its assets

According to the statements of the bankrupt exchange, when it sells its remaining assets under restructuring plans rising to $16.3 billion They will have a certain amount. This means that approximately 11 billion debts will be paid and billions of dollars will be left over. The company claims that almost all customers will be able to get back their lost funds by November 2022.

FTX’s new CEO John Ray said that the type of bankruptcy filed by a company for restructuring in the US, “Chapter 11He stated that they intend that money will be returned to creditors through their plans. It should be noted that this filing has not yet been approved by the US bankruptcy courts.

FTX, By selling investments from Alameda Research and FTX Ventures companies raises money and tries to pay off his debts. Alameda Research played a serious role in the stock market crash. Although this Bankman-Fried-owned company was thought to be privileged and independent, it turned out that FTX’s native token was tied to FTT.