A judge has approved a payback plan worth more than $14 billion two years after the collapse of FTX exchange.

• Almost two years after spiraling into bankruptcy, FTX's reorganization plan was approved by a Delaware bankruptcy judge.
• The company claims to have amassed between $14.7 billion and $16.5 billion in property that it intends to distribute to creditors.
• As per the court-approved plan, 98% of FTX's creditors will receive 119% of the amount of their approved claim.

Two years after FTX's bankruptcy, a Delaware judge approved its reorganization plan, which includes paying out over $14 billion to its customers.

John Ray, who became FTX CEO after the company filed for bankruptcy in late 2022, stated on Monday that the company is committed to returning 100% of bankruptcy claim amounts plus interest to non-governmental creditors through what will be the largest and most complex bankruptcy estate asset distribution in history.

Ray, who guided Enron through bankruptcy, stated that the estate is currently finalizing arrangements to distribute funds to creditors globally.

The company claims to have gathered between $14.7 billion and $16.5 billion in property for distribution, while FTX previously estimated that it owes creditors approximately $11.2 billion.

Delaware bankruptcy Judge John Dorsey approved a plan that will see 98% of FTX's creditors receive 119% of their allowed claim as of November 2022, when the exchange filed for bankruptcy protection.

Since FTX's failure, the price of has increased by approximately 260%. FTX obtained funds by selling a variety of assets, including venture investments held by the exchange and other investments held by Alameda Research, Bankman-Fried's crypto hedge fund.

This year, FTX sold most of its stake in Anthropic, an artificial intelligence startup backed by Amazon, for nearly $900 million.

The bankruptcy estate will announce the date of the payout plan's implementation and the expected start of distributions separately.

In November, Sam Bankman-Fried, the founder of FTX, was convicted of seven criminal counts, including charges related to stealing billions of dollars from FTX's customers. He was sentenced to 25 years in prison.

Caroline Ellison was given a two-year prison sentence for her part in the FTX collapse.