#FTXrepayment FTX began the first wave of payments to creditors totaling $1.2 billion. Former clients of the bankrupt FTX platform with assets up to $50,000 have started receiving their first payments on the Kraken exchange and through the BitGo service. According to Sunil Kavuri, a representative of the largest group of FTX creditors, a total of $800 million has already been received by 162,000 out of 460,000 wallets.

In a conversation with Cointelegraph, Bitget Wallet's Chief Operating Officer Alvin Kan suggested that many market participants are reinvesting the received funds, 'affecting market liquidity and prices.'

However, the news of the first round of payments to creditors negatively impacted the prices of leading cryptocurrencies. In October, Delaware bankruptcy judge John Dorsey approved the payment plan for creditors of the collapsed exchange.

The proposed compensation scheme was supported by 94.48% of FTX clients with claims on assets worth $6.83 billion. About 98% of creditors will receive at least 118% of their claims in fiat at the exchange rate at the time of filing for bankruptcy.

Recall that FTX settled claims with the CFTC for $12.7 billion and reached a settlement with the U.S. Internal Revenue Service over a $24 billion lawsuit.