FTX filed for Chapter 11 bankruptcy in November 2022 after a liquidity crisis and allegations of mismanagement.

- The bankruptcy process is being overseen by John J. Ray III, the new CEO appointed to handle the restructuring and repayment process.

2. **Asset Recovery:**

- FTX has been working to recover assets, including cash, cryptocurrencies, and other investments, to repay creditors.

- Significant progress has been made in locating and securing funds, but the process is complex due to the decentralized and global nature of crypto assets.#FTXRepayments