Breaking: FTX Plans To Repay Customer Funds Fully, Drops Relaunch Plans

• The platform, instead, focuses on reimbursing its customer funds completely.
• FTX has abandoned its plan to reboot the exchange, failing to meet sufficient capital.
• FTT tokens fell by 35%, with whales selling the tokens following the platform’s revelation.

The bankrupt crypto exchange FTX has abandoned its plans to restart the company, dismissing anticipations of FTX re-launching as FTX.com. According to recent reports, FTX declared that the firm is looking forward to liquidation in a bid to completely reimburse the customer funds.

Previously, FTX announced its plans to reboot the company as FTX.com, focusing on international customer services. Along with the plan, the company proposed a draft creditor-repayment plan intending to settle its customer claims in cash. In addition, a recent report claimed that FTX, struggling to settle its customer claims, initiated unloading its crypto holdings as a means to fetch funds.

Adding more clarity to the matter, in a court hearing, FTX attorney Andy Dietderich shared insights on the company’s efforts in repaying its customer funds, which were locked when the company fell in 2022. Reportedly, the company has recov…

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