On January 31, bankruptcy lawyers revealed in court that the failed cryptocurrency exchange FTX is expected to repay creditors in full.。However, the client's assets will be evaluated based on the fiat value of the cryptocurrency assets held during the market turmoil when the exchange went bankrupt.。

FTX Plan Full Repayment

During the court hearing, FTX lawyer Andy Dietderich, from the law firm Sullivan and Cromwell, said the bankruptcy exchange could "carefully predict" full repayment to clients and creditors, but that was only a "goal" and not a "guarantee."。

"Based on our results to date and current projections, we expect to file a disclosure statement in February on how customers and unsecured creditors in general will ultimately be paid in full if claims are allowed," he said.。"

FTX and its affiliates filed for bankruptcy in November 2022, when bitcoin was trading at about $20,500.。Since then, the cryptocurrency market has rebounded sharply, with the value of Bitcoin more than doubling to nearly $42,000.。

Kris Hansen, a lawyer for the FTX Creditors Committee, said at the court hearing: "Many of these claims are premised on currencies that had fallen sharply in value during the turbulent period before the filing date.。"

will not restart the exchange

The lawyer further confirmed that there are no plans to relaunch FTX as a cryptocurrency。

Dietderich added: "With no investor ready to put the capital needed to restart an offshore exchange and no buyer willing to use the exchange as a going concern, the cost and risk of creating a viable exchange on a broken basis is simply too high.。"

At its peak, FTX was the second most traded cryptocurrency exchange。However, its global operations collapsed within days after Sam Bankman-Fried's business scandal surfaced.。Bankman-Fried has been found guilty of seven criminal offences and is currently awaiting trial.。

Meanwhile, FTX's insolvency administrator is also selling digital assets as its cash holdings rose to $4.4 billion at the end of December.。