FTX has announced intentions to fully repay all creditors and provide billions in compensation to some, aiming to give at least 118% of allowed claims to 98% of creditors. This proposal, subject to approval by a Delaware Bankruptcy Court, represents a significant shift from FTX's previous plan that only reimbursed creditors for the value of their assets at the time of bankruptcy in November 2022.

The estimated total value to be distributed to creditors is between $14.5 and $16.3 billion, with only creditors with claims below $50,000 eligible for the 118% recovery. If approved, the repayment process would be completed within 60 days after the plan's effective date.

This development comes against the backdrop of Bitcoin's significant rise by almost 200%, indicating positive market trends that have influenced this new approach by FTX. Further details will be provided as available.