FTX Won't Reboot Exchange, But Plans to Pay Back Customers in Full

Customers of the collapsed crypto exchange will get their money back, the exchange said—but FTX isn’t making a comeback.

Collapsed cryptocurrency exchange FTX will not be restarted, the firm’s bankruptcy lawyers said Wednesday in a court hearing, due to a lack of interest from buyers.

However, the company said that it expects to fully repay customers and "general unsecured creditors" affected by November 2022’s sudden shutdown amid a liquidity crisis.

This story is breaking and will be updated with additional details.