#FTXrepayment FTX has initiated its repayment process as of February 18, 2025, nearly three years after its collapse. The first phase prioritizes creditors with claims under $50,000, referred to as the “Convenience Class,” who will receive full repayment plus 9% annual interest accrued since November 2022. This phase involves distributing approximately $1.2 billion, managed by BitGo and Kraken, with payments expected within 1-3 business days.

The total repayment plan aims to distribute up to $16-$18 billion in stages, with larger claims exceeding $50,000 addressed in subsequent phases starting in Q2 2025. Creditors must complete KYC verification and submit tax forms to qualify for payouts. This marks a significant step in FTX’s reorganization plan following its bankruptcy proceedings