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.

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.