#FTXrepayment
๐จ FTX Repayment Update โ Creditors Begin to Receive Funds! ๐ฐ
FTX has officially started repaying its creditors after receiving court approval for its bankruptcy plan. This marks a major milestone in the exchangeโs collapse and recovery process.
๐ Key Updates:
โ February 18, 2025 โ First round of repayments began, targeting creditors with claims under $50,000 (the "Convenience Class"), distributing $1.2 billion.
โ May 30, 2025 โ Next phase for creditors with claims above $50,000.
โ Total Repayment โ Estimated between $14.5 billion and $16.5 billion.
โ Creditor Recovery โ 98% of creditors expected to be repaid, with at least 118% of their claim value in cash.
โ๏ธ Disclaimer: This update is for informational purposes only and does not constitute financial or legal advice. Please consult official sources or legal professionals for accurate details on your claim.
FTXโs repayment plan is being closely monitored as it plays a crucial role in the broader crypto market recovery. What are your thoughts? Share in the comments! ๐
