#FTXrepayment
FTX, the cryptocurrency exchange that collapsed in November 2022, has initiated repayments to its creditors, marking a significant step in its bankruptcy proceedings. On February 18, 2025, the first group of creditors, those with claims under $50,000, began receiving their funds. This initial distribution is part of a broader plan to repay approximately $1.2 billion to creditors. The repayments are being managed through platforms like BitGo and Kraken. Notably, creditors are set to receive 100% of their claims plus 9% annual interest. This development is seen as a pivotal moment in the recovery of the cryptocurrency industry. citeturn0search1
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