"FTX Halts Crypto Exchange Restart Plans"
FTX has abandoned plans to restart its crypto exchange and will instead liquidate its assets to repay customers in full following founder Sam Bankman-Fried's conviction on fraud charges. The company has recovered over $7 billion in assets and reached agreements with regulators to prioritize customer repayment before other claims. Despite objections from customers, a U.S. Bankruptcy Judge ruled that debts must be repaid based on their value at the time of the bankruptcy filing in November 2022, which may result in lower repayments due to cryptocurrency price increases.
