#FTXRefunds Refunds

FTX Collapse: The crypto exchange X#FTXRefunds collapsed in November 2022 due to fraud by founder Sam Bankman-Fried, who was later sentenced to 25 years in prison.

Repayment Plan: In early 2025,#FTXRefunds X will start refunding customers. Those owed $50,000 or less (about 98% of users) will get back 100% of their money plus interest—about 119% of their account value as of Nov 2022.

Total Recovery: #FTXRefunds recovered around $14.7–$16.5 billion by selling assets and settling lawsuits.

Note for Users: Repayments are based on 2022 crypto prices. Many assets, like Bitcoin, have gone up a lot since then, so users won’t benefit from that price increase.

Final Word: Customers will be made whole, but not at current crypto values. Refunds are expected to begin by January 2025.