👍 FTX Set to Repay ~$16 Billion to Victims Two Years After Collapse

More than two years after the crypto market crash, FTX exchange has taken a major step forward as the court has officially approved its repayment plan. Accordingly, approximately $16 billion will be repaid to victims, with an expected implementation date of early March 2025.

The highlight of this plan is that creditors will be able to choose to receive compensation in USD or stablecoins, providing flexibility and convenience in recovering lost assets. This is a positive signal for millions of investors who suffered huge losses after FTX's infamous collapse in late 2022.

The repayment process will be carried out in stages, with a priority on ensuring transparency and fairness for all parties involved. This plan marks an effort by FTX and law enforcement to bring the case to a close, remedying the consequences of one of the biggest scandals in crypto history.

Creditors are advised to quickly prepare information and choose the form of compensation to ensure the process goes smoothly.

More detailed updates will continue to be announced in the coming time.

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