#FTXrepayment
FTX has begun repaying creditors, starting with those in the "Convenience Class" who have claims of $50,000 or less. These individuals will receive full repayment along with 9% annual interest accrued since November 2022.
The repayments are part of FTX's reorganization plan, which took effect on January 3, 2025. The company plans to distribute $17 billion in total, with $7 billion allocated for the first phase.
Creditors with claims exceeding $50,000 will receive payments starting in the second quarter of 2025. FTX has partnered with BitGo and Kraken to process the payments.