#FTXrepayment FTXrepayment FTX must return USD 1.2 billion to its creditors on February 18, a key step in the exchange's bankruptcy proceedings.

Users will receive their funds at 3:00 PM UTC on February 18, according to a post on X on February 4 from FTX creditor Sunil, who is part of the largest group of over 1,500 FTX creditors, the FTX Ad-Hoc Customer Committee.

The reimbursements will provide an estimated capital of USD 1.2 billion to the first wave of defrauded FTX users.

FTX reimbursements are seen as a positive sign for the recovery of the cryptocurrency sector, according to Alvin Kan, Chief Operating Officer of Bitget Wallet.