The bankrupt crypto exchange FTX will return money to customers - more than $11 billion. Most will even be paid interest.

Crypto exchange FTX, which was one of the largest in the world and declared bankruptcy in 2022, will return money to almost all clients. CNBC writes about this with reference to court documents.

The exchange's debt to clients is $11.2 billion. By monetizing its assets (mainly investments from its affiliated companies), FTX is expected to be able to find an even larger amount to cover its debt - from 14.6 to 16.3 billion.

The additional money is expected to be used to pay interest. It is expected that clients whose claims are less than $50 thousand (this is 98% of all exchange clients) will receive 118% of the required debt amount.

FTX's plan has yet to be approved by the bankruptcy court.

• FTX went bankrupt in November 2022. By that time, it was the third crypto exchange in the world in terms of the volume of funds raised - they were estimated at $32 billion. The bankruptcy occurred after the release of a journalistic investigation, which spoke about the serious financial difficulties of the exchange, which is why clients began to withdraw money from there en masse.
• In March 2024, FTX founder Sam Bankman-Fried received 25 years in prison. He was found guilty of stealing money from clients - as the court found, he embezzled more than eight billion dollars.