#FTXRefunds As of June 1, 2025, FTX has commenced its second phase of creditor repayments, marking a significant milestone in its bankruptcy proceedings.
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💸 Key Details on FTX Refunds
Total Repayment Amount: Over $5 billion is being distributed to creditors starting May 30, 2025, as part of the court-approved Chapter 11 Plan of Reorganization.
Eligible Creditors: Those with "Allowed" claim status as of April 11, 2025, who have completed all pre-distribution requirements, including Know Your Customer (KYC) verification and tax documentation.
Recovery Rates: Creditors can expect recoveries ranging from 54% to 120% of their original claims, based on the U.S. dollar value of their holdings at the time of FTX’s collapse in November 2022.
Distribution Partners: Funds are being distributed through BitGo and Kraken, with transfers expected within one to three business days from the start date.
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🛡️ Important Considerations
Valuation Date: Refunds are calculated based on the value of assets at the time of FTX's collapse in November 2022, not accounting for any subsequent appreciation in cryptocurrency prices.
Scam Alerts: Be vigilant against phishing emails and fraudulent websites impersonating FTX or its affiliates. Always verify communications through official channels.
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📅 Repayment Timeline Overview
January 3, 2025: Court approval of the Chapter 11 Plan.
February 18, 2025: Initial repayments commenced, focusing on smaller claims under $50,000.
May 30, 2025: Second phase of repayments initiated, targeting larger claims.
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For detailed information on your claim status or to complete necessary pre-distribution steps, please refer to the official FTX creditor portal or contact their support channels directly.
If you need assistance navigating the refund process or have specific questions, feel free to ask!
