#FTXrepayment
will have to return USD 1.2 billion to its creditors on February 18, a key step in the bankruptcy proceedings of the exchange.
Users will receive their funds at 3:00 PM UTC on February 18, according to a post on X from February 4 by FTX creditor Sunil, who is part of the largest group of over 1,500 FTX creditors, the Ad-Hoc Committee of FTX Customers.
The reimbursements will provide an estimated capital of USD 1.2 billion to the first wave of defrauded FTX users.
FTX reimbursements are seen as a positive signal for the recovery of the cryptocurrency sector, according to Alvin Kan, Chief Operating Officer of Bitget Wallet.
