#FTXrepayment #FTXrepayment

💥 FTX will begin paying creditors on February 18, 2025. The first payments will prioritize creditors with claims under $50,000.

☕Details:

👉Priority: Initial payments will be made to creditors in the "Convenience Group," meaning those with claims under $50,000.

👉Payment Timeline: Creditors with small claims are expected to receive payments within three business days from February 18, 2025.

👉Total Refund Amount: FTX plans to distribute a total of $17 billion, with the first phase being around $7 billion. Other sources indicate the total amount could reach $18 billion.

👉Payments to Larger Creditors: Creditors with claims over $50,000 will begin receiving payments in Q2 2025.

👉Support from Other Exchanges: Exchanges Kraken and Bitgo are assisting FTX in distributing refunds.