#FTXrepayment

FTX Begins Long-Awaited Refunds

FTX started refunding its users on February 18, 2025, at 15:00 UTC, with $800 million already sent to 162,000 accounts. Many users confirmed receiving their funds through the Kraken platform.

FTX Repays Its Creditors

FTX Digital Markets, the Bahamas branch of the bankrupt exchange, has begun its first round of refunds as planned. Out of the $1.2 billion set aside, $800 million has already been distributed to 162,000 accounts.

Kraken, the exchange chosen by FTX, is handling the payments, and many users have confirmed receiving their funds there. Sunil, a representative of over 1,500 creditors, stated that this phase only includes those with claims under $50,000.

These refunds come more than two years after FTX’s collapse, which caused $9 billion in losses and triggered a major downturn in the crypto market. At its lowest point, Bitcoin fell to $16,000.

Alvin Kan, operations director at Bit get Wallet, expects the refunds to impact the market. He believes investors will reinvest much of the $1.2 billion into cryptocurrencies, increasing liquidity and affecting digital asset prices.

However, many in the crypto community are unhappy with how refunds are calculated. FTX is paying creditors based on November 2022 prices when Bitcoin was worth 80% less than it is today. Since then, Bitcoin's value has surged over 370%, meaning users are receiving much less compared to the current value of their lost assets.

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