Crypto dips as FTX bankruptcy ends. With one weird exception – DL News
- A five-hour hearing has ended the FTX bankruptcy.
- Creditors will get up to $16.5 billion back.
- However, some are not happy about it.
It is, without a doubt, useless.
And yet the FTT token once peddled by failed crypto exchange FTX surged on Monday as a US bankruptcy judge declared the token worthless.
“I have no evidence today that the value of FTT tokens would be anything other than zero,” Judge John Dorsey, of the US Bankruptcy Court of the District of Delaware, said during a hearing Monday, overruling a request from creditors who held the token in their FTX accounts when the exchange collapsed.
That hearing, which lasted more than five hours, brought FTX’s two-year bankruptcy to a close.
Judge Dorsey approved FTX’s plan to repay its…
