⚠️ Creditors of the collapsed cryptocurrency exchange FTX are set to receive up to $16.5bn under a US-approved bankruptcy plan. This follows FTX's bankruptcy in November 2022, which left millions without access to their accounts. Former boss Sam Bankman-Fried was convicted of stealing funds and sentenced to 25 years. The plan allows customers to recover about 119% of their account value at bankruptcy. Funds are expected 60 days after the plan's effective date. Assets worth $14.7-$16.5bn have been recovered, partly by selling FTX's investments❗
