Once it finishes selling all of its assets, the company will have as much as $16.3 billion in cash to distribute, according to a company statement. It owes customers and other non-governmental creditors about $11 billion.
Depending on the type of claim they hold in the case, some creditors could recover as much as 142% of what they are owed. The vast majority of customers, however, will likely get paid 118% of what they had on the FTX platform the day the company entered Chapter 11 bankruptcy.
Earlier this year, the company had about $6.4 billion in cash. The increase is due mostly to a general spike in prices for various cryptocurrencies, including Solana, a token heavily backed by convicted fraudster and FTX founder Sam Bankman-Fried. The company has also sold dozens other assets, including various venture-capital projects like a stake in the artificial-intelligence company Anthropic.
Financial Times: Most FTX account holders will get their money back after bankruptcy
Worth noting that this is less than many would have if their assets had been locked. Though compared to many assets 18% return in 19 months isn't bad.
"This is like saying that if I break into the Federal Reserve Bank, make off with a million bucks, spend it all on Powerball tickets and happen to win, it was okay." – Judge Kaplan