The announcement was likely welcomed by former customers, whose money was locked up amid court proceedings.

He wassentenced in March to 25 years in prison.

The new reorganization plan is pending finalization and approval from the bankruptcy court.

FTX co-founder and former CEO Sam Bankman-Fried was sentenced to 25 years in prison for his role in the exchange’s collapse.

FTX co-founder and former CEO Sam Bankman-Fried was sentenced to 25 years in prison for his role in the exchange’s collapse.Photo: Michael M. Santiago (Getty Images)

He also thanked FTXs customers and creditors for their patience throughout the 17-month-long process.

This article originally appeared onQuartz.

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