#FTXRefunds

FTX, the cryptocurrency exchange that collapsed in November 2022, has initiated a court-approved plan to refund customers and creditors. The plan, effective from January 3, 2025, aims to repay 98% of customers—those with claims of $50,000 or less—within 60 days. These customers are expected to receive approximately 118% of their account value as of the bankruptcy date, accounting for interest

FTX has recovered between $14.7 billion and $16.5 billion through asset sales and settlements, enabling these repayments . However, since repayments are based on the U.S. dollar value of assets at the time of bankruptcy, customers will not benefit from the significant appreciation in cryptocurrency prices since then

The repayment process is being facilitated by crypto firms Kraken and BitGo, ensuring secure and transparent distributions . FTX's former CEO, Sam Bankman-Fried, was sentenced to 25 years in prison for fraud and ordered to pay $11 billion in restitution