• bitcoinBitcoin (BTC) $ 83,035.00 1.44%
  • ethereumEthereum (ETH) $ 1,902.28 1.7%
  • tetherTether (USDT) $ 0.999896 0.01%
  • xrpXRP (XRP) $ 2.33 3.15%
  • bnbBNB (BNB) $ 608.84 1.8%
  • solanaSolana (SOL) $ 127.63 6.19%
  • usd-coinUSDC (USDC) $ 0.999854 0%
  • cardanoCardano (ADA) $ 0.714150 4.09%
  • dogecoinDogecoin (DOGE) $ 0.170902 3.04%
  • tronTRON (TRX) $ 0.213455 3.58%
  • bitcoinBitcoin (BTC) $ 83,035.00 1.44%
  • ethereumEthereum (ETH) $ 1,902.28 1.7%
  • tetherTether (USDT) $ 0.999896 0.01%
  • xrpXRP (XRP) $ 2.33 3.15%
  • bnbBNB (BNB) $ 608.84 1.8%
  • solanaSolana (SOL) $ 127.63 6.19%
  • usd-coinUSDC (USDC) $ 0.999854 0%
  • cardanoCardano (ADA) $ 0.714150 4.09%
  • dogecoinDogecoin (DOGE) $ 0.170902 3.04%
  • tronTRON (TRX) $ 0.213455 3.58%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 0.43 Gwei

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FTX creditors

FTX Creditors Begin Receiving Initial Repayments Amid Bankruptcy Process

FTX creditors have started receiving their initial payouts, marking a significant step in the collapsed exchange’s bankruptcy resolution.

Those with claims under $50,000 are being fully reimbursed, along with 9% annual interest, bringing relief to many affected users. However, larger creditors will have to wait until the second quarter of 2025 to receive their portion of the $16 billion earmarked for total distributions.

FTX Creditors Receive 119% of Approved Claims

The repayment process, facilitated through Kraken and BitGo, has seen substantial outflows from FTX-controlled wallets. Blockchain analytics firm Arkham Intelligence estimates that $1.2 billion is being distributed in this first phase. Court-approved bankruptcy plans indicate that smaller creditors will receive approximately 119% of their adjudicated claim value, benefiting from interest accrued since FTX’s collapse in November 2022.

Screenshots shared by claimants show that some received more than their original claim amount, thanks to the accumulated interest. Additionally, KrakenClick here for more Details is providing trading fee credits alongside the repayments, ensuring a seamless transfer process.


The Road to Repayment for FTX Creditors

The downfall of FTX in 2022 was one of the most shocking events in crypto history, revealing massive financial mismanagement, missing customer funds, and fraud allegations against its leadership. This led to the conviction of founder Sam Bankman-Fried in 2023, while legal proceedings continued to recover and distribute assets.

Through liquidation efforts, asset sales, and settlements, the FTX bankruptcy estate has managed to recover more assets than initially expected. This has enabled full reimbursement for smaller claims and significant returns for larger creditors.

However, not all FTX creditors are satisfied with the process. Those with claims exceeding $50,000 must wait until mid-2025 for their share of the remaining $16 billion, sparking frustration among larger investors.

What’s Next for FTX Creditors?

While the initial payouts mark progress, questions remain about the long-term financial recovery for larger creditors. The estate continues to liquidate remaining holdings, but regulatory hurdles and pending lawsuits could affect future distributions.

For now, the FTX creditor repayment process is moving forward, setting a precedent for large-scale crypto bankruptcy resolutions. As more funds are recovered, investors are watching closely to see if additional payouts or legal disputes will impact the final amounts they receive.

ANOTHER MUST-READ: Top 10 Tech Trends for Crypto and Examples of Real-world Applications

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