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. Last year, former boss Sam Bankman-Fried was convicted of stealing customer funds ahead of the collapse and later sentenced to 25 years in prison.

Cryptocurrency firm FTX won court approval to fully repay customers whose digital assets were locked on the platform when it imploded nearly two years ago, an unusual result that could net shareholders in Sam Bankman-Fried’s fraud-tainted exchange a slice of $1 billion in seized assets.

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.