#FTXRefunds FTX, after its collapse in November 2022, began compensating its clients after a court approved its bankruptcy plan in October 2024. The platform has allocated 18 billion dollars for reimbursements.

🔹 Summary of the compensation plan

- Reimbursements: Clients with balances less than 50,000 dollars will receive up to 118% of their original balance.

- Timeline: First payment made on February 18, 2025, followed by payments on April 11 and May 30.

- Distribution: FTX partnered with BitGo and Kraken to process the payments, requiring KYC verification and tax forms.

- Additional interest: Creditors will receive 9% interest on their claims since November 2022.

This process aims to alleviate the impact of the bankruptcy and restore confidence in the crypto ecosystem.