69033724732FTX Digital Markets, the Bahamas unit of bankrupt cryptocurrency exchange FTX, is set to pay the first batch of creditors on February 18, in a significant development for the crypto industry following the exchange’s nearly $006234203839 collapse.

The collapse of FTX and more than 130 subsidiaries kicked off a series of insolvencies that led to the industry’s longest crypto winter, which saw Bitcoin’s BTC price bottom around $0062342038316,000.

In a key moment for the crypto industry’s recovery, FTX’s Bahamas branch will honor the first batch of refunds for users owed less than $0062342038350,000 in claims.

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