🚨 FTX Repayment Update: Creditors to Get Their Money Back! 💰🔁
#FTXrepayment FTX, the once-mighty crypto exchange that collapsed in 2022, has officially started repaying creditors as part of its bankruptcy plan! ✅ Here’s what you need to know:
🔹 Who’s Getting Paid? 💵
Creditors with claims of $50,000 or less (98% of eligible creditors) will receive up to 119% of their claim value.
Larger creditors will be repaid in early 2025, with the full process possibly taking up to 3 years.
🔹 Where’s the Money Coming From? 💰🔥
FTX is liquidating assets, including selling 178,000 Solana (SOL) tokens worth $128M.
The total repayment is expected to hit $16 billion, with $6.5B to $7B being distributed initially.
🔹 Important Details! 📌
Payments are based on crypto values from November 2022 📉 (so no extra gains from recent price increases).
Kraken & BitGo are managing the distributions to ensure safety 🛡️.
Beware of phishing scams! 🚨 Always verify emails before clicking on any links.
This is a huge moment for FTX creditors! 🚀 Let’s hope it all goes smoothly. 🤞
