🔊 FTX Repayments Begin: $16B to Creditors
#FTX is officially starting its $16B creditor repayment plan today, January 3, 2025, under a court-approved reorganization.
Here's what you need to know:
🔸 Jan 3: Initial Distribution Record Date
🔸 Feb/Mar: First wave of payments (~$1.2B for claims under $50K, 119% payout)
🔸 Claims over $50K: ~$10.5B
Action Required for Creditors
1️⃣ Complete KYC
2️⃣ Submit W-8BEN Form
3️⃣ Onboard with a distribution partner (BitGo or Kraken?
