#FTXrepayment

FTX has begun its repayment process, starting with creditors who are owed $50,000 or less. This initial repayment round, which began on February 18, 2025, is expected to distribute approximately $1.2 billion to affected creditors ¹ ².

The repayment process is part of FTX's bankruptcy resolution and is being overseen by crypto custodian BitGo. Creditors will receive their funds in phases, with the next repayment distribution scheduled for May 30, 2025 ¹.

Here are some key points to note about the FTX repayment process:

- *Eligibility*: The initial repayment round is limited to creditors with claims of $50,000 or less.

- *Repayment amount*: Creditors will receive 100% of their claim amount, plus a 9% annual post-petition interest.

- *Distribution agent*: Creditors must choose a distribution agent, such as BitGo or Kraken, to receive their repayment.

- *Verification*: Creditors must complete Know Your Customer (KYC) verification and submit required tax forms to participate in the repayment process.

The FTX repayment process is a significant step towards resolving the exchange's bankruptcy and providing relief to affected creditors. However, some creditors have expressed frustration with the repayment plan, citing concerns over the use of older price valuations and the potential impact on the crypto market ³.