#FTXrepayment

The FTX repayment process has finally kicked off, with the first round of payments starting on February 18, 2025. This initial distribution includes $1.2 billion worth of repayments, focusing on smaller creditors with claims under $50,000 ¹.

Here's what you need to know about the repayment process:

- *Eligible Creditors*: The first wave of payments will go to creditors with claims under $50,000, known as the "Convenience Class" ¹.

- *Payment Timeline*: Payments are expected to arrive in creditors' designated accounts within 1-3 business days ².

- *Total Distribution*: The total repayment amount is estimated to be around $16 billion, with 98% of creditors expected to receive at least 118% of their claim value in cash ³.

- *Security Concerns*: There have been reports of phishing attempts targeting creditors during the verification process, so it's essential to be cautious and only use official channels ⁴.

- *Next Repayment Round*: The next round of repayments is scheduled for May 30, 2025, and will include claims for values above $50,000 ³.