The company’s repayment plan still needs approval by a bankruptcy court. Creditors holding claims of $50,000 or less, amounting to about 98% of the total, would receive approximately 118% of the amount of their allowed claims within 60 days after the effective date of the repayment plan, FTX said.

FTX says that nearly all of its customers will receive the money back they are owed, two years after the cryptocurrency exchange imploded.

Collapsed cryptocurrency exchange FTX says it has billions of dollars more than it needs to repay customers. The firm says that once it has sold off its remaining assets it will have as much as $16.3bn (£13bn) to cover its debts,

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