👀 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickSee Undervalued Stocks

Breaking: FTX Plans To Repay Customer Funds Fully, Drops Relaunch Plans

Published 02/01/2024, 03:38 PM
Updated 02/01/2024, 03:45 PM
Breaking: FTX Plans To Repay Customer Funds Fully, Drops Relaunch Plans

  • The platform, instead, focuses on reimbursing its customer funds completely.
  • FTX has abandoned its plan to reboot the exchange, failing to meet sufficient capital.
  • FTT tokens fell by 35%, with whales selling the tokens following the platform’s revelation.

The bankrupt crypto exchange FTX has abandoned its plans to restart the company, dismissing anticipations of FTX re-launching as FTX.com. According to recent reports, FTX declared that the firm is looking forward to liquidation in a bid to completely reimburse the customer funds.

Previously, FTX announced its plans to reboot the company as FTX.com, focusing on international customer services. Along with the plan, the company proposed a draft creditor-repayment plan intending to settle its customer claims in cash. In addition, a recent report claimed that FTX, struggling to settle its customer claims, initiated unloading its crypto holdings as a means to fetch funds.

Adding more clarity to the matter, in a court hearing, FTX attorney Andy Dietderich shared insights on the company’s efforts in repaying its customer funds, which were locked when the company fell in 2022. Reportedly, the company has recov…

The post Breaking: FTX Plans To Repay Customer Funds Fully, Drops Relaunch Plans appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.