#FTXRefunds
Sure! Here's an updated summary of **#FTXRefunds** as of **June 2025** — covering the repayment process for FTX creditors:
---
### 💰 **Phase 1: Small Claim Payouts**
* **Start Date:** February 18, 2025
* **Eligible Group:** Creditors with claims **under \$50,000** (known as the "Convenience Class")
* **Payout Rate:** **100%** of claim value plus **9% interest**, calculated from November 11, 2022, to the date of payment
* **Status:** Most eligible creditors have already received these funds
➡️ *[Source](https://mudrex.com/learn/ftx-repayment-plan-2025/?utm_source=chatgpt.com)*
---
### 💼 **Phase 2: Larger Claim Payouts**
* **Start Date:** May 30, 2025
* **Eligible Group:** Creditors with claims **over \$50,000**
* **Total Distribution:** Over **\$5 billion USD**
* **Expected Delivery Time:** Within **1–3 business days** after May 30 for eligible creditors
➡️ *[Source](https://www.prnewswire.com/news-releases/ftx-recovery-trust-to-distribute-more-than-5-billion-to-creditors-in-second-distribution-on-may-30-2025-302456976.html)*
---
### 🧾 **Eligibility Requirements**
To receive payment, creditors must have:
* Completed **KYC (identity verification)**
* Submitted a **valid tax form**
* Selected a **distribution provider** (e.g., BitGo or Kraken)
* Passed a **sanctions screening**
⚠️ These steps had to be completed **before April 11, 2025** to qualify for the May 30 distribution.
➡️ *[Official FAQs](https://support.ftx.com/hc/en-us/articles/34522100742804-Distributions-Dashboard-FAQs)*
---
### 💵 **Claim Valuation Details**
* **Currency:** All payouts are made in **USD**
* **Valuation Date:** Based on asset prices from **November 2022** (when FTX declared bankruptcy)
* **Impact:** Due to crypto price increases since then, some users are receiving less than they originally deposited
➡️ *[Binance Blog Analysis](https://www.binance.com/en/square/post/24970224951745)*
---
