#FTXrepayment

On February 18, 2025, FTX initiated its first round of creditor repayments, disbursing approximately $1.2 billion to claimants in the "Convenience Class," which includes those with claims up to $50,000. These creditors are expected to receive full repayment plus 9% interest, with funds anticipated in their accounts within one to three business days.

The next distribution is scheduled for May 30, 2025, targeting creditors with claims exceeding $50,000. To qualify, these creditors must verify their claims and select a distribution agent by April 11, 2025.

FTX's recovery plan aims to repay 98% of creditors at least 118% of their claim value in cash, with total distributions estimated between $14.5 billion and $16.3 billion.

The repayment process is supported by crypto firms Kraken and BitGo, facilitating the distribution of funds.

FTX has also initiated legal actions to recover funds, including a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao, alleging fraudulent activities and intentional harm to FTX.

These developments mark significant progress in FTX's efforts to rectify its financial obligations and restore stakeholder confidence following its collapse in November 2022.