#FTXRefunds FTX has begun refunding customers in fiat currency, aiming to return roughly 118% of what users had in their accounts at the time of bankruptcy. This repayment plan covers customers in over 200 jurisdictions and is expected to be completed by the end of 2024 for smaller claims and in installments for larger institutional creditors. Here's a more detailed breakdown: 

Repayment Plan:

FTX's bankruptcy plan, approved by a US court, aims to return a total of $14.7 billion to $16.5 billion to customers. This amounts to 118% of the value of their accounts at the time FTX filed for bankruptcy in November 2022.

Fiat Currency:

Customers will receive their refunds in fiat currency, not cryptocurrencies. This means the payments will be made in currencies like the US dollar, euro, or British pound.

Repayment Timeline:

The majority of customers, those owed less than $50,000, are expected to receive their refunds by the end of 2024. Larger institutional creditors will receive staggered installments.

Recovery Process:

FTX has recovered a significant amount of assets through the sale of its holdings, including its investment in Anthropic, to fund these repayments.

Impact:

The repayment plan allows FTX to prioritize its customer base and ensure they receive full reimbursement of their claims, including