FTX customers in line for higher payouts as crypto prices soar

FTX is on track to repay its customers up to two-fifths more than the initial value of their claims as administrators for the collapsed exchange capitalise on surging prices of cryptocurrency and artificial intelligence assets.

Customers are likely to be repaid as much as 120-140 per cent of what their assets were worth on the day of FTX’s bankruptcy, according to two people with knowledge of the restructuring negotiations, owing to the rising value of assets such as bitcoin and its stake in AI start-up Anthropic.

The repayments to more than 100,000 creditors have become a critical plank for lawyers defending former FTX chief executive Sam Bankman-Fried ahead of his sentencing in the US this week.

Source: FTX customers in line for higher payouts as crypto prices soar