#FTXRefunds

Key Updates on FTX Refunds

Total Recovery Fund: FTX has amassed approximately $11.4 billion in cash through asset sales, settlements, and legal recoveries

Repayment Structure: Refunds are being issued in U.S. dollars, calculated based on the value of crypto assets at the time of FTX's bankruptcy filing in November 2022. An annual interest rate of 9% is applied until disbursement

Customer Impact: While some creditors may receive up to 118% of their original claim value, the repayment amounts may not reflect the significant appreciation in crypto asset values since 2022. For instance, Bitcoin has surged from approximately $17,000 in November 2022 to over $105,000 .

Distribution Partners: FTX has partnered with Kraken and BitGo to facilitate the distribution of funds to eligible creditors .

Jurisdictional Considerations: Certain regions, including Russia, China, Egypt, Nigeria, and Ukraine, are currently ineligible for refunds due to regulatory constraints. FTX is reviewing options for affected creditors in these jurisdictions .

Market Reaction

The initiation of refunds has garnered significant attention within the crypto community. Many recipients are contemplating reinvestment strategies, with a notable interest in assets like Solana, memecoins, and AI-driven crypto projects

Next Steps for Creditors

Claim Verification: Creditors are advised to verify their claim status and ensure all necessary documentation is submitted via the FTX Customer Portal.

Disputed Claims: Those with disputed claims should seek resolution promptly to be included in upcoming distribution phases

Stay Informed: Regularly check official FTX communications and the Distributions Dashboard for updates on payment timelines and eligibility
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