Business

FTX Finally Begins Repayment Process

FTX has begun repaying its creditors nearly three years after its infamous collapse.

Haider Jamal
February 19, 2025

BitGo & Kraken Will Help

On February 18th, the first payouts were made to creditors with claims of $50,000 or less, who will receive full repayment, including 9% interest. Payments are expected within one to three business days.

FTX has partnered with BitGo and Kraken to manage the process. This first round will cover around 162,000 claims out of an estimated 460,000. The total amount to be distributed is $17 billion, with $7 billion allocated for the first phase.

More Waiting

Creditors with claims over $50,000 will need to wait until the second quarter of 2025 for their payouts. These creditors must complete KYC verification and submit tax forms to receive payments.

FTX estimates total payouts could range from $14.46 billion to $16.25 billion, with a recovery rate between 123% and 138%. Secured and customer claims are expected to be fully repaid.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.