#FTXrepayment

The FTX cryptocurrency exchange, after declaring bankruptcy at the end of 2022, has implemented a repayment plan for customers and creditors. Below are important details related to this process:

1. Repayment plan:

- Start date: The repayment is expected to begin on January 3, 2025.

- Priority for small debts: Customers and creditors with reimbursement requests under $50,000 will receive approximately 118% of the requested amount. About 98% of FTX customers fall into this category.

2. Total repayment amount:

- FTX currently has between $14.7 billion and $16.5 billion to distribute to customers and creditors. This amount is expected to reimburse 98% of users more than the amount they lost, based on account value as of November 2022.

3. Repayment method:

- FTX will repay in cash, based on the value of cryptocurrency assets as of November 2022. This means that customers will receive an amount corresponding to the value of their assets at that time, rather than the original amount of cryptocurrency.

4. Support from other companies:

- The repayment process will be supported by cryptocurrency companies such as Kraken and BitGo, ensuring that the distribution occurs smoothly and securely.

The implementation of this repayment plan by FTX marks an important step in addressing financial obligations following the bankruptcy incident, bringing hope to affected customers and creditors.

FTX Begins Repaying Customers in Early 2025.