$BTC #BTCRebound Payment

FTX, the cryptocurrency exchange that collapsed in 2022, announced its repayment plan for creditors. Here’s a summary of what you need to know:

Key Points:

* Start date for repayments: February 18, 2025

* Initial payments: Will go to those with claims of $50,000 or less.

* Full repayment: FTX aims to fully repay all creditors, including interest.

* Valuation: Repayments are based on cryptocurrency prices from November 2022, when FTX collapsed.

* Interest: Creditors will receive an additional 9% interest calculated from November 11, 2022, until the payment date.

* Distribution partners: BitGo and Kraken are involved in the distribution process.

* Next distribution date: April 11, 2025, for customer and creditor claims.

* Know Your Customer (KYC) and qualification: Claimants need to complete KYC and tax qualification forms with BitGo or Kraken by May 30, 2025.