#FTXrepayment FTX Begins Repayments: Key Updates
FTX has started repaying creditors over two years after its collapse in November 2022. The first phase, launched on February 18, 2025, prioritizes creditors with claims up to $50,000, offering full repayment plus 9% annual interest since the bankruptcy filing. Additional repayment phases are scheduled for April 11 and May 30, focusing on larger claims.
FTX has recovered between $12.3 billion and $15 billion, which will be distributed through secure platforms like Kraken and BitGo. Approximately 98% of creditors are expected to receive 118% of their claims, ensuring more than full restitution.
Founder Sam Bankman-Fried has been sentenced to 25 years for fraud, with other executives also facing legal consequences. Creditors are urged to complete KYC, submit tax forms, and verify claims to ensure smooth repayment. This marks a significant step toward restoring customer trust.