FTX has issued the first batch of compensation! The next phase for claims over $50,000 and general unsecured claims will be distributed by the end of May.
FTX has finally issued the first batch of compensation to users at 11 PM Taiwan time on February 18, distributing funds through Kraken and BitGo, and issuing them in USD. Users will receive the funds within 1 to 3 business days. Additionally, the details and timing of the next distribution have been announced, which will target users with claims exceeding $50,000, as well as NFT users and general unsecured claim (suppliers, litigation/fraud claims) users for compensation, expected to be distributed by the end of May. FTX announced that the expected record date for the next distribution is April 11, 2025, applicable to the permitted claims of Category 5 customer rights and Category 6 general unsecured claims as defined in the plan, as well as holders of facilitated claims that have been allowed but have not yet received their distribution since the initial record date. The next distribution is expected to start on May 30, 2025. This means that users with claims exceeding $50,000 at the application date, as well as NFT users and general unsecured claims (suppliers, litigation/fraud claims), will be included in the next round of processes. Customers and creditors in the next phase should continue to complete KYC verification, submit the required tax forms, and join BitGo or Kraken to receive distributions. Further notifications will be provided in the future.