The collapsed crypto exchange FTX has stated that it has billions more than is necessary to repay the creditors impacted by its collapse. The recovered assets are estimated to be between $14.5 and $16.3 billion, surpassing the firm's debts of approximately $11 billion.

According to FTX's new CEO John Ray, the proposed repayment plan suggests returning 100% of bankruptcy claim amounts plus interest for non-governmental creditors. However, the plan still requires approval from a bankruptcy court. Creditors with claims of $50,000 or less, making up 98% of the total, could receive about 118% of their allowed claims within 60 days after the plan's effective date.

The controversy arises because the repayment plan will reimburse creditors based on the assets' value at the time of FTX's collapse in November 2022, rather than current prices. Many argue that reimbursements should reflect the current market prices. The crypto market has significantly recovered since FTX's demise, with Bitcoin surging by almost 280%.

Sunil Kavuri, an FTX creditor, has raised objections to estimating claims based on 2022 prices, arguing that customers should receive the value of crypto back. The dispute over the repayment plan continues despite the progress made by FTX in recovering more than what it owes its creditors.