#FTXrepayment FTX Repayment Update: A New Chapter for Creditors

The wait is finally over for FTX creditors. The first wave of repayments has begun, marking a significant milestone in the company's Chapter 11 reorganization plan.

As of February 18, 2025, FTX has started processing payments for claims under $50,000, totaling around $1.2 billion. This initial payout is a crucial step towards compensating affected users and rebuilding trust in the crypto community.

To receive their funds, creditors must complete KYC verification and submit tax forms. FTX has partnered with BitGo and Kraken to ensure secure transactions.

Here are the key details of the repayment process:

Creditors will receive 100% of their claim value plus an additional 9% interest calculated from November 11, 2022.

The total amount to be distributed is approximately $16 billion, with the initial payout estimated between $6.5 billion and $7.5 billion.

While this news brings relief to creditors, some experts warn of potential selling pressure if creditors decide to sell their payouts. Only time will tell how this will impact the market.

Stay informed and share your thoughts on the FTX repayment process. How do you think this will affect the crypto market?