@BINANCE SQUARE#FTXRefunds PLAN: After a long and arduous process since its catastrophic collapse in 2022, FTX's payment plan finally went into effect on January 3, 2025. This is a major milestone for creditors who have been waiting years to recover their assets.

FTX estate, the asset management and bankruptcy proceedings arm of the collapsed exchange, announced in December that it intended to begin the debt repayment process within 60 days of the effective date.

Although the total estimated distribution amount from FTX's assets may range from $14.7 billion to $16.5 billion, the first payout round will not reach this figure due to prioritizing payments for compensation claims under $50,000, referred to as 'convenience classes' (a group of people prioritized for quick, simple payouts with smaller or easier-to-resolve claims).