FTX Set to Begin Creditor Payouts as Early as January via BitGo and Kraken
Word on the street is that FTX, the crypto exchange that collapsed late 2022, might start creditor repayments as early as January, according to reports from News1.
As per Cointelegraph and other sources (dated Dec. 16), FTX's Chapter 11 restructuring plan is slated to kick in on January 3. From that date, the exchange will have a 60-day window to initiate repayments.
The process will roll through BitGo, a well-known crypto custody service, and Kraken, one of the biggest crypto exchanges in the game.
FTX’s CEO, John J. Ray III, stated, “We’re making sure all necessary steps are completed so customers can get their repayments on time.”
TL;DR: If you’re an FTX creditor, eyes on January — those funds might finally start flowing. 💸