FTX customers to get back billions as US approves bankruptcy plan

A US court approved collapsed cryptocurrency exchange FTX's bankruptcy plan on Monday. FTX can now repay billions to its customers and creditors nearly two years after it collapsed in 2022, sending shockwaves through the cryptocurrency industry. FTX is estimated to have up to $16.5 billion available to repay its dues. 98% of creditors will get 119% of their allowed claim.