🚨 FTX Starts Repayment – Over $14B Recovered! 🚨
FTX has officially begun the process of repaying its customers after its collapse in November 2022, marking a major milestone in the aftermath of one of the largest financial scandals in cryptocurrency history. Over $14.7 billion to $16.5 billion in assets have been recovered, and $11.2 billion will be allocated to repaying creditors, with an initial focus on customers with claims under $50,000. These customers stand to recover up to 119% of their initial claims, potentially reimbursing them for their full losses.
The first round of payouts began in February 2025, with additional repayments scheduled for April and May. While the repayment process has been a long time coming, many users are still facing frustration due to the fact that the calculations are based on 2022 asset prices, meaning they miss out on the crypto market gains that have occurred since FTX’s bankruptcy. This has raised questions about whether the repayments are truly fair to all users.
Beyond customer repayments, FTX is pursuing a legal battle to recover millions of dollars in political donations made before the company’s bankruptcy, with lawsuits targeting these funds. Meanwhile, FTX’s founder Sam Bankman-Fried is currently serving a 25-year prison sentence for his role in orchestrating the fraudulent activities that led to FTX’s downfall.
Despite the repayment progress, the road to full recovery for FTX’s customers and creditors is far from over. The company’s leadership, under John J. Ray III, remains committed to restoring trust and making amends for the damage caused. However, many question whether the damage done to the reputation of FTX and the broader crypto industry can ever be fully repaired.