fights for his freedom in criminal court, former customers of his FTX cryptocurrency exchange who have lost about $16 billion in assets are inching toward getting most of their money back.this month that customers can expect to recoup over 90% of the “distributable value” of the funds recovered from the failed enterprise. But while it plans to direct the lion’s share of the pie to customers who held investments on its international and U.S.
On top of that, FTX had $2.4 billion in cash and $1.7 billion in major cryptocurrencies excluding bitcoin and solana as of August 31. After recent market advances, the holdings in those two tokens are now worth $2.6 billion. There are $16.6 billion of what the September presentation classified as “non-customer avoidance actions,” consisting of payments that might be reclaimed from FTX affiliates, insiders, donations and vendors. Subtracting $588 million already “monetized” and considering the company’s statement that some of the total was also included with the customer clawbacks, we assigned a modest recovery value of 5%, or $565 million, to the rest.