#FTXRefunds

FTX, the cryptocurrency exchange that collapsed in November 2022, has initiated repayments to its customers and creditors in 2025. The court-approved reorganization plan took effect on January 3, 2025, with initial distributions prioritizing customers with claims of $50,000 or less. This group comprises over 90% of all creditors involved in the case.   

The first round of repayments began on February 18, 2025, with approximately $1.2 billion distributed to eligible claimants. Subsequent distributions are scheduled, including a significant disbursement of over $5 billion on May 30, 2025. FTX has partnered with crypto firms Kraken and BitGo to facilitate these repayments. Customers are required to complete Know Your Customer (KYC) verification, submit necessary tax forms, and onboard with either Kraken or BitGo to receive their funds.    

Repayments are based on the U.S. dollar value of customer deposits as of November 2022, the time of FTX’s bankruptcy filing. This means customers will not benefit from any subsequent appreciation in cryptocurrency values. For instance, Bitcoin’s value has increased significantly since November 2022, but repayments will reflect its value at that time.