#FTXrepayment FTX’s $1.2B repayments mark key moment in crypto industry recovery

FTX is set to repay $1.2 billion to creditors on Feb. 18, marking a key step in the exchange’s bankruptcy proceedings.

FTX Digital Markets, the Bahamian unit of the collapsed cryptocurrency exchange FTX, is set to repay the first group of creditors on Feb. 18 in a significant development for the crypto industry following the exchange’s almost $9 billion collapse.

In a key moment for the crypto industry’s recovery, FTX’s Bahamas wing will honor the first batch of repayments for users who are owed less than $50,000 worth of claims.

Users will receive their funds at 3:00 pm UTC on Feb. 18, according to a Feb. 4 X post from FTX creditor Sunil, who is part of the largest group of more than 1,500 FTX creditors, the FTX Customer Ad-Hoc Committee.

The repayments will bring an estimated $1.2 billion worth of capital to the first wave of defrauded FTX users.