#FTXrepayment FTX has announced plans for upcoming reimbursements to creditors of the bankrupt cryptocurrency exchange after initiating its first round of reimbursements on February 18.

According to an announcement on February 18, the next distribution of reimbursements will take place on May 30, 2025, for holders of allowed claims of "Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims." This includes customers who had assets on the platform when it collapsed and other creditors, such as suppliers and business partners.

The next round of payments from FTX requires creditors to have verified claims by April 11, the deadline to qualify for the distribution.

According to Sunil Kavuri, a creditor of FTX and advocate, the payment round starting in May will include claims worth over $50,000. These creditors will need to choose a distribution agent by April 11, Kavuri added.

Under FTX's recovery plan, it is expected that 98% of creditors will receive at least 118% of the value of their claim in cash. In May 2024, the exchange estimated that the total value of the distribution would be between $14.5 billion and $16.3 billion.