Big news about FTX, a cryptocurrency company! It went bankrupt, meaning it couldn't pay its debts. This is costing a lot of money to fix.
- FTX's bankruptcy is super expensive – almost $1 billion!
- Many lawyers and helpers are working to give back money to people who lost money.
- Surprisingly, most FTX customers might get all their money back, plus a little extra!
- This is one of the most expensive bankruptcies ever.
| Item | Amount |
|---|---|
| Total Bankruptcy Costs | ~$1 Billion |
| Money Returned to Customers (estimated) | 118% of what was owed |
| Lawyers' Fees (Sullivan & Cromwell) | ~$248.6 Million |
FTX is trying to return money to people. It's a complicated process, but it shows that even with huge problems, things can sometimes work out.
