#FTXRefunds

🚨 FTX Refunds Begin: Customers to Receive 118%+ of 2022 Claims

FTX has initiated the process of repaying its customers, marking a significant milestone in the aftermath of its 2022 collapse. The company has recovered between $14.7 billion and $16.5 billion, enabling it to reimburse nearly all customers.

Key Highlights:

Repayment Timeline: The reorganization plan took effect on January 3, 2025, with repayments to customers with claims of $50,000 or less beginning within 60 days.

Recovery Rate: Approximately 98% of customers are expected to receive about 118% of their allowed claims, providing a full recovery plus interest.

Asset Recovery: Funds were amassed through asset sales, including subsidiaries like FTX Japan and LedgerX, as well as settlements and legal recoveries.

Considerations:

While the repayments are based on the U.S. dollar value of holdings as of November 2022, customers have missed out on the substantial gains in cryptocurrency values since then. For instance, Bitcoin has surged from approximately $17,000 in November 2022 to over $104,000 currently.

Despite this, the repayments represent a significant recovery for customers affected by the exchange's collapse.

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