FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion US in assets recovered since the once-leading crypto exchange collapsed.

FTX's approved plan could pave the way for $2.4 billion to flow back into the crypto markets, influencing Bitcoin's Q4 performance.

U.S. bankruptcy judge John Dorsey gave FTX the green light to repay 98% of its customers using $16.5 billion in assets recovered after the exchange filed for bankruptcy.

Creditors of the collapsed cryptocurrency exchange FTX are poised to receive up to $16.5bn (£12.6bn) under a bankruptcy plan approved in the US on Monday. The agreement will put an end to a saga that started when the firm went bankrupt in November 2022, leaving millions of customers around the world without access to their accounts.

A judge has reportedly approved payments to customers of collapsed crypto exchange FTX — and its shareholders could get $1 billion in seized assets.

Crypto exchange FTX’s creditors are set to receive more than $12 billion in coming months in a court-approved payout plan, raising the prospect that some of the cash could be plowed back into digital assets.