Effective Date: The repayment plan commenced on January 3, 2025.

Eligibility: Users with claims under $50,000 are prioritized for payments, which are expected within 60 days of the plan's initiation.

Requirements: To receive payments, users must complete Know Your Customer (KYC) verification, submit necessary tax documents, and select their preferred payout platform.

Payment Groups

Convenience Classes:

  1. Users with claims under $50,000 will receive payments first.

  2. The recovery rate for this group is set at 119%, meaning if you had $10,000, you could receive $11,900 back.

  3. This group is estimated to receive around $1.2 billion in total payouts.

Larger Claims:

  1. Users with claims exceeding $50,000 will be paid from a separate fund of $10.5 billion.

  2. The timeline for these payments is currently unclear, and the exact recovery percentage has not been confirmed.

Next Steps for Users

Log into the Portal: Access the Customer Claims Portal with your FTX account credentials.

Submit Claims: Ensure that your claim has been submitted and is under review.

Follow Instructions: Adhere to the guidelines provided in the portal for the repayment process.

Conclusion

The FTX repayment plan represents a significant step towards recovering funds for users affected by the bankruptcy. It is essential to stay informed about the process and ensure all necessary documentation is submitted to facilitate a smooth repayment experience.

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