FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading crypto exchange collapsed.

FTX Token (FTT) has been on the investors’ radar due to bankruptcy proceedings between the debacle trading company and the United States regulators. On Monday, 7 October 2024, the US court approved FTX’s repayment plan,

Brian Glueckstein, an attorney for the FTX estate and a partner at Sullivan & Cromwell, argued Monday that the correct valuation of the FTT tokens held by creditors was, in fact, zero, and there was “no basis” for a revision to this decision.