#FTXRefunds It’s official! More than two years after its collapse, FTX has begun reimbursing its customers. On February 18, 2025, the first payments were made, prioritizing those with claims under $50,000. These reimbursements, facilitated by BitGo and Kraken, include an annual interest of 9% accrued since November 2022, representing approximately 119% of the claimed value.
However, the reimbursements are based on the dollar value of cryptocurrencies at the time of the FTX collapse in November 2022. This means that customers will not benefit from the significant gains that the cryptocurrency market has experienced since then. For example, Bitcoin has increased from approximately $17,000 in November 2022 to over $105,000 currently.
The court-approved FTX reorganization plan states that initial payments will be made within 60 days following January 3, 2025. Customers must complete certain steps, such as identity verification (KYC) and registration with Kraken or BitGo, to receive the funds.
This process marks a significant milestone in the recovery of assets after one of the largest collapses in cryptocurrency history. Although the reimbursements do not reflect the current market value, they represent a step towards restitution and trust in the crypto ecosystem.DiarioBitcoin+1Investing.com Mexico+1
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