Now-shuttered cryptocurrency exchange FTX said it expects to repay its customers and creditors in full, according to a Wednesday court hearing in Wilmington, Delaware..

Before doing so, the restructuring advisors will need to assess the many claims that have been filed against FTX to determine which ones are legitimate, lawyer Andrew Dietderich said during the hearing.

FTT Token (FTT-USD) initially climbed some 10% on the news, but then erased those gains and fell into negative territory, down 14.4% at press time, after Dietderich said that the team overseeing FTX will no longer attempt to restart or sell the defunct trading platform.

Recall in April when lawyers representing FTX told a court in Delaware that the cryptocurrency exchange is considering reopening in Q2. The Wall Street Journal reported late last year that Bullish, a crypto exchange run by former New York Stock Exchange President Tom Farley, as well as fintech startup Figure Technologies and crypto venture-capital firm Proof Group were vying to buy FTX.

“The costs and risks of creating a viable exchange from what Mr. Bankman-Fried left in the dumpster were simply too high,” Dietderich said. Sam Bankman-Fried founded FTX, but shuttered his company in late 2022 and subsequently handed control to insolvency specialists.

During the hearing, US Bankruptcy Judge John Dorsey ruled that each claims' size will be determined based on what the customer was owed on the day FTX filed for bankruptcy protection.