As of February 20, 2025, FTX has begun refunding its customers, more than two years after its collapse in November 2022. The first refund was made on February 18, with subsequent payments scheduled for April 11 and May 30. FTX plans to distribute between €12.3 billion and €15 billion in recovered assets through crypto platforms such as BitGo and Kraken. John Ray III, who is leading the bankruptcy process, stated that 98% of customers will receive about 118% of their claims, including up to 9% interest. The top priority is refunding customers rather than government claims. Meanwhile, FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for fraud that led to the company’s collapse.
