🗣 Customers of the now-defunct FTX cryptocurrency exchange can be repaid starting January 3, 2025
⏺ With certain conditions met, the first group of claimants can anticipate repayments no later than 60 days after January 3, 2025.
⏺ The recovery distribution process for FTX users will be aided by crypto firms Kraken and BitGo. Debtors can repay almost 119% of their claimed account value, or 98% of users, once the plan takes effect.
⏺ Convenience class users (claiming $50,000 or less) will be repaid first. At publication, the third distributor will remain anonymous.
FTX filed for bankruptcy in November 2022 after a liquidity crisis and CEO Sam Bankman-Fried's resignation.
⏺ With certain conditions met, the first group of claimants can anticipate repayments no later than 60 days after January 3, 2025.
⏺ The recovery distribution process for FTX users will be aided by crypto firms Kraken and BitGo. Debtors can repay almost 119% of their claimed account value, or 98% of users, once the plan takes effect.
⏺ Convenience class users (claiming $50,000 or less) will be repaid first. At publication, the third distributor will remain anonymous.
FTX filed for bankruptcy in November 2022 after a liquidity crisis and CEO Sam Bankman-Fried's resignation.