FTX says most customers will get all money back, less that 2 years after catastrophic collapse

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.The interest rate for most creditors is 9%. FTX, which was once the third-largest cryptocurrency exchange in the world, filed for bankruptcy protection in November 2022 after it experienced the crypto equivalent of a bank run.