#FTXRefunds Here's an update on the FTX refund process as of today, June 3, 2025:

Current Status and Recent Developments:

* Second Round of Payouts Initiated: FTX has commenced a second round of payouts to eligible creditors. This distribution, amounting to over$BTC $5 billion, began on May 30, 2025.

* Targeted Creditor Classes: This round targets eligible creditors in both the Convenience Class (typically smaller claims) and Non-Convenience Classes, who have completed all pre-distribution requirements.

* Distribution Partners: Funds are being disbursed through the official distribution service providers, Kraken and BitGo. Eligible recipients should expect to receive their funds within 1 to 3 business days from May 30th, meaning many may have already received them or are in the process of receiving them today.

* Recovery Rates: The distribution includes varying recovery rates based on claim type:

* Dotcom Customer Entitlement Claims: Receiving a 72% distribution.

* US Customer Entitlement Claims: Receiving a 54% distribution.

* Convenience Claims: Receiving a 120% distribution (including post-petition interest).

* General Unsecured Claims and Digital Asset Loan Claims: Each receiving a 61% distribution.

* KYC Deadline Impact: A significant deadline for Know Your Customer (KYC) verification was June 1, 2025. Nearly 400,000 FTX users were at risk of losing a combined $2.5 billion in repayments if they failed to complete this mandatory verification process by this extended deadline. Claims that did not commence the KYC submission process by this date are subject to disallowance and expungement.

* Total Recovered Assets: The FTX estate has successfully recovered a substantial amount, estimated between $14.7 billion and $16.5 billion, with approximately $11.4 billion in cash available for repayments.

* Valuation Date Remains November 2022: It's crucial to remember that all compensation amounts are based on the value of holdings as of November 2022, when FTX filed for bankruptcy. $BTC