#FTXRefunds

FTX's bankruptcy repayment plan is underway, aiming to distribute over $16.5 billion to creditors, with $1.2 billion already paid out through its Bahamian subsidiary. Nearly 98% of creditors will receive 119% of their claims' value from November 2022, when FTX collapsed. However, 400,000 users risk losing $2.5 billion if they miss the June 1, 2025, KYC deadline. Payments prioritize claims under $50,000, but larger creditors await updates. While the plan offers relief, some customers are frustrated, as repayments don’t reflect recent crypto price surges. FTX’s recovery efforts mark a significant milestone in addressing one of crypto’s biggest failures.