#FTXrepayment Bitcoin (BTC) and Solana (SOL) experienced declines on Monday as the bankrupt cryptocurrency exchange FTX begins to redistribute tokens owed to creditors from its collapse in 2022, starting with those who had 50,000$ or less. The report generated mixed responses among investors, as some see it as negative for the cryptocurrency market.
FTX's repayment plans will come into effect this week
The bankrupt cryptocurrency exchange FTX is set to initiate its first round of payments to creditors following its collapse in late 2022.
FTX creditors will begin receiving refunds this week as part of the ongoing bankruptcy resolution of the exchange.
The cryptocurrency investment firm Monolith.vc stated that the official refund process will start on Tuesday.
The first recipients are the Convenience Class creditors with claims of 50,000$ or less, who will receive full reimbursement with a post-petition annual interest of 9%, according to FTX's restructuring plan.
