FTX’s bankruptcy estate announced Tuesday that creditors and customers are likely to receive between $14.5 billion to $16.3 billion in total compensation—but that doesn’t include payouts for holders of FTX’s ill-fated Once regarded as the defunct exchange’s native token on Ethereum, allowed claims regarding FTT are to be “canceled or released,” a Around 98% of FTX creditors with allowed claims less than $50,000 will also receive 118% of what they’re owed if the plan receives court approval. Based on the USD value of crypto prices when FTX buckled in 2022, the payment represents a little interest on top of funds customers lost 18 months ago, when crypto prices were broadly much lower than they are now.Creditors and customers who lost FTT in FTX’s collapse were previously set to receive cash payments based on their holdings, according to an FTX FTX founder and former CEO Sam Bankman-Fried was handed a Most of Bankman-Fried’s wealth, which topped out at an estimated $26.5 billion, was made up of ownership in FTX and FTT, per Bankman-Fried’s profile on Among the NFTs impacted by FTX’s collapse are Solana NFTs minted by the platform itself, including those offered by concert festivals FTT’s collapse is synonymous with the fatal tailspin that wrecked FTX in November 2022. A report from After Changpeng Zhao, founder and then-CEO of Binance, The day FTX filed for Chapter 11 bankruptcy, FTT traded hands at $2.62, down 97% from its 2021 all-time high of $80.50. Jumping Aside from being used to Edited by Andrew Hayward
