#FTXrepayment

FTX Coin Repayment - February 19, 2025

Key Points:

* Repayments have begun: FTX initiated repayments to creditors on February 18, 2025.

* Initial focus on smaller claims: The first phase targets "Convenience Class" creditors with claims of $50,000 or less. These creditors are expected to receive full repayment plus 9% annual interest (from November 2022).

* Larger claims to follow: Creditors with claims exceeding $50,000 will begin receiving payments in Q2 2025.

* Total repayment amount: FTX plans to distribute approximately $18 billion in total.

* Partnerships for distribution: FTX has partnered with BitGo and Kraken to handle the distribution of funds.

Additional Notes:

* The repayment process follows FTX's reorganization plan, which took effect on January 3, 2025.

* The collapse of FTX in 2022 had a significant impact on the cryptocurrency market.

* The repayment process is being closely watched by investors and regulators.