#FTXRefunds
💸 Refund Timeline & Distribution
Initial Distributions: FTX commenced its repayment process on January 3, 2025, with the first batch of payments directed towards customers holding claims of $50,000 or less. These initial repayments were scheduled to be processed within 60 days of the effective date.
Subsequent Distributions: A second distribution, amounting to over $5 billion, was executed on May 30, 2025. Eligible creditors were informed to expect funds from their selected distribution service providers within 1 to 3 business days from this date.
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🔐 KYC Verification Deadline
Extended Deadline: FTX administrators extended the Know Your Customer (KYC) verification deadline to June 1, 2025, offering a final opportunity for affected users to qualify for repayment.
At-Risk Funds: Approximately 392,000 FTX creditors risk losing a combined $2.5 billion in refunds if they fail to complete the necessary KYC identity verification.
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💰 Repayment Details
Total Recovery Funds: FTX has recovered between $14.7 billion and $16.5 billion to repay customers and other debtors.
Repayment Calculations: Repayments are based on the U.S. dollar value of customer deposits as of November 2022, meaning customers have missed out on subsequent crypto market gains. For instance, Bitcoin's value has surged from around $17,000 in November 2022 to over $105,000.
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⚠️ Important Considerations
Missed Market Gains: While the repayment plan aims to return nearly 119% of account value to 98% of its customers, the calculations are based on November 2022 valuations. Consequently, customers have missed out on the significant appreciation in crypto prices since then.
KYC Compliance: Failure to complete the KYC process by the stipulated deadline could result in the forfeiture of refund eligibility.
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For the latest updates and detailed information, creditors are advised to visit the FTX Restructuring Portal.
