The FTX collapse that rocked the crypto world in late 2022 is trending toward a happy ending—for some investors, at least. This week, FTX’s bankruptcy estate began repaying customers who lost their assets after the platform’s bankruptcy—a resolution that once seemed impossible.

The estate of bankrupt crypto exchange FTX has begun distributing cash to creditors more than two years after Sam Bankman-Fried’s trading platform imploded.

FTX's bankruptcy estate is beginning with small claims customers, disbursing $1.2 billion worth of repayments in this initial round.

Bitcoin plunged Tuesday after FTX revealed it was starting initial customer repayments over two years since the exchange's collapse, as lingering concerns re-emerge over the potential market and sentiment implications of the refunds.