#FTXrepayment

The cryptocurrency world is talking about FTX again. The exchange, which collapsed in November 2022, is now preparing to repay its creditors. As of February 17, 2025, FTX has a plan to return money to those who lost funds. This article looks at FTX’s repayment plan, its impact on the market, and what it means for the exchange’s future.

Overview of FTX’s Repayment Plan

FTX has said it will start repaying creditors on February 18, 2025. This is an important step nearly three years after the exchange collapsed.

The plan, approved by the court, will first repay those who have claims of $50,000 or less. This group, called the “Convenience Class,” makes up about 98% of the creditors who can get refunds.

FTX Repayment Plan 2025: What Creditors Need to Know

FTX Repayment Plan 2025: What Creditors Need to Know

Key Details of the Repayment Process

Start Date: Payments will commence at 10 AM ET on February 18, 2025.

Interest Rate: Creditors will receive 100% of their claim value plus an additional 9% interest calculated from November 11, 2022, until the payment date.

Distribution Partners: Payments will be processed through BitGo and Kraken to ensure secure transactions.

Eligibility Requirements: Creditors must complete KYC verification and submit tax forms to receive funds. Those who miss the initial deadline can still qualify for later distributions.