Posted 1/31/2024, 4:20:00 PM
FTX to Fully Repay Customers But Won't Resume Operations After Collapse
- FTX expects to fully repay customers but won't restart defunct crypto exchange
- FTX has abandoned efforts to re-start platform due to lack of buyers
- FTX filed for bankruptcy in 2022 after founder Sam Bankman-Fried was found guilty of pilfering customers' money
- FTX's native token FTT surged 11% on news of expected full customer repayment
- Collapse of FTX exchange late last year was a major event in crypto industry