𝗙𝗧𝗫 𝗙𝘂𝗲𝗹𝘀 𝗧𝗵𝗲 𝗕𝗨𝗟𝗟𝗥𝗨𝗡 🐂📈

Significant Update: #FTX is initiating the repayment of $16 billion to its creditors beginning today.

With disbursements scheduled over the next 60 days, consider the potential impact on the #cryptocurrency markets as this capital re-enters the ecosystem.

This development may serve as a catalyst for the upcoming #bullmarket

Prepare for an exciting ride ahead! 💪🏻🚀

🚾 FTX begins creditor payments

📣 Although the cryptocurrency exchange's reorganization plan includes compensations ranging from $14.7 billion to $16.5 billion, its impact on the market is expected to be limited.

✅ According to K33 Research, approximately $2.4 billion may return to the market after creditors receive their payments.

✅ The first payments will go to account holders with claims of $50,000 or less. This group will collectively receive around $1.2 billion. Larger clients will receive their funds later.

All creditors are required to complete KYC verification and submit tax documents via the FTX Debtors client portal.
#FTX #kyc #Binance250Million #BitcoinInSwissReserves #CryptoReboundStrategy

⚡️ Payments to FTX creditors have begun — the exchange plans to compensate damages of $14-16 billion in stablecoins within 60 days.

It is expected that part of these funds may return to the market, potentially sparking growth.

#FTX #news #FTXAuction #BTC

When will #FTX $FTT start paying customers?

The distribution plan of FTX is effective from (January 3, 2025 - USA), but the actual distribution date will be determined later.

7 billion USD in cash will be distributed within 60 days, and 9 billion USD will be distributed thereafter.

The FTX payment plan is now in effect — When will users see their money?
According to the plan, some FTX users requesting amounts under $50,000 can expect to receive their money within 60 days.

The reorganization plan of the bankrupt cryptocurrency exchange FTX came into effect on January 3 and will allow users to begin receiving refunds.
In a post on January 3 on X, FTX creditors stated that users requesting to withdraw funds should be cautious of phishing emails designed to look like they are sent from the exchange.
Customers need to file a claim through the official website to be eligible for a refund; FTX indicated that this would occur within 60 days for the first group.

According to FTX's plan, a “convenience class” group will initially be the first to receive refunds, including users requesting $50,000 or less. The plan approved in October stated that 98% of FTX users can expect to be paid back 119% of the declared value of their funds.
Refunding users may be one of the final steps in the FTX story, which began with the exchange filing for bankruptcy in November 2022 and led to some executives being imprisoned for defrauding users.
At the time of publication, Cointelegraph could not find any users reporting having received money from the reorganization plan.
#FTX

#FTX will start to be compensated tomorrow, and the actual implementation will be in February and March. It is expected that 50% of the claim amount will not be used to purchase cryptocurrencies.

The implementation of the restructuring plan means that the compensation has begun, not that the FTX exchange has begun to operate. Will $FTT rise? It is estimated that it will be delayed until the FTX exchange is officially put into operation. The time is not an estimate for the time being.

#FTX more than 2 years of restructuring after the shocking collapse, FTX will start repaying more than $16B to customers from today (04/01/2025), 2 months earlier than previously expected. This amount will be paid in USDT. Congratulations to the players returning after 2 years! 😎

FTX Repays $16 Billion Today, Boosting Crypto Industry

The cryptocurrency community is excited and skeptical about FTX's long-awaited $16 billion creditors payback proposal.

Industry leaders are optimistic about the crypto market's potential benefit as the defunct exchange, run by the now-convicted Sam Bankman-Fried, prepares to begin these payments.

$16 Billion Creditor Repayment

Many observers anticipate that some of FTX's payback plan cash payments will return to the cryptocurrency market, boosting the digital asset ecosystem's positive trend.

The hope is that these inflows would create liquidity and boost market activity. Not everyone is hopeful.

As previously reported by Bitcoinist, FTX Trading Ltd. and its connected debtors acknowledged that their court-approved Chapter 11 Plan of Reorganization will take effect on Friday, January 3, 2025.

If KYC and other distribution criteria are met, the first distribution should occur within 60 days after this effective date.

The first distribution will concentrate on Convenience Classes, with additional claim classes' record and payment dates to be released subsequently.

FTX Debtors CEO John J. Ray III was optimistic about the last two years' accomplishments. He said the recovery activities had been rigorous and effective, recovering billions of dollars.

Ray stressed that the plan's success allows consumers and creditors to get compensation. He urged clients to finish distribution stages on schedule.

Sunil, the “FTX Creditor Champion” on X, confirmed that repayments will not commence on January 3, 2025.

Sunil said that the Convenience Class will get $1.2 billion within 60 days, followed by bigger claims exceeding $50,000.

Although the timetable is undetermined, analysts believe a large amount of the recovered assets might return to the crypto market.

With FTX's financial reserves estimated at $16 billion plus possible money from venture capital portfolios and litigation, the crypto industry might be affected.

#FTX #CryptoReboundStrategy #BitcoinInSwissReserves #USStateBuysBTC $FTT $SOL

FTX's big move! After bankruptcy restructuring, creditors are about to receive a huge distribution of funds!

FTX has begun to distribute money to creditors, marking an important step in their bankruptcy restructuring plan.

Starting from January 3, 2025, this plan will officially take effect, meaning they are starting to address the mess left after the collapse in November 2022.

First, they will distribute money to a portion of creditors, known as convenience class creditors.

According to FTX, the funds will be credited within 60 days after the plan takes effect. However, obtaining the funds is not that easy; certain conditions must be met, such as passing identity verification, completing tax forms, selecting a payment service provider, and undergoing sanction checks. If the deadline is missed, one will have to wait for the next round of distributions.

There are two payment service providers: one is Kraken, and the other is BitGo. They can transfer funds to you in fiat currency or cryptocurrency.
If you are a client of FTX US, BitGo can provide you with ACH transfers, wire transfers, or stablecoins as digital assets.
Kraken offers similar services, but depending on your location, there may be additional transfer options like SWIFT and SEPA.

However, be aware that there are some locations where both service providers cannot operate. For instance, BitGo cannot operate in New York, and Kraken cannot operate in New York, Washington, and Maine. If your local service provider cannot operate there, you will have to wait for them to find a solution.

Speaking of distributions, it depends on how much asset you held when FTX collapsed in November 2022. For example, at that time, Bitcoin was priced between $15,000 and $17,000, but now it is worth $100,000.

Nevertheless, even with this, the speed of distribution this time by FTX is much faster than previous cryptocurrency bankruptcy cases. For instance, Mt. Gox, which collapsed in 2014, is still waiting for funds.

FTX claims they have between $14.7 billion and $16.5 billion available for distribution. According to this plan, around 98% of creditors will be able to reclaim 119% of their claims.

The opportunity is just around the corner; in the upcoming strategic direction, I will guide everyone to target high-profit opportunities in altcoins, with an expected upside of over 10 times being very possible. Like + comment, and I will help you layout the entire bull market!

$SOL $BIO $SUI

#ADA热度上升 #BIO开盘 #FTX

Defunct cryptocurrency exchange #FTX has resumed its customer recuperation process, targeting the convenience class in the initial distribution.
The FTX bankruptcy estate kicked off its reorganization plan on January 3. From Friday, the team will fully resume the processes involved in repaying affected investors in the exchange’s bankruptcy filing in November 2022.
The resumption marks a crucial stage in the process, which has undergone several legal proceedings. The initial phase will target holders of allowed claims in the convenience distribution.

Repayment Process in Full Swing

With the reorganization in full effect, the estate called on the convenience class of the allowed claims to complete the pre-distribution process. For context, the convenient class is a group of FTX’s allowed claims creditors with less than $50,000 worth of claims in the bankruptcy proceeding.
Notably, this stage mandates that distribution claimants meet KYC requirements, submit a tax form, and choose a distribution service provider. Meanwhile, the convenience creditors have until January 20 to meet this pre-distribution criteria or miss out on the initial repayment process.
Any claimant in this category who fails to satisfy the requirements will receive reimbursement in the subsequent distribution process. Moreover, repayment for this class will run for 60 days from the start date, and creditors are expected to receive a total of $1.2 billion.
#cryptonewstoday

#FTX

FTX's distribution plan is effective today, but the actual distribution date will be determined later.

$7 billion in cash will be distributed within 60 days, and $9 billion will be distributed thereafter.

🚨 The FTX Debtors Plan of Reorganization is effective today, January 3, 2025. Today is also the initial distribution record date for holders of allowed claims in the Plan's Convenience Classes. Separate record and payment dates for other classes of claims will be announced later.

To be eligible to receive a distribution, customers and other creditors must complete the pre-distribution conditions, including selecting a distribution agent on the FTX Debtors' Customer Portal page: claims.ftx.com. For more information, visit:

The FTX Debtors also remind customers to please remain aware of phishing emails that may look like they are from FTX Debtors and scam sites from channels that may appear to look like the FTX Debtors' Customer Portal.

#FTX #FTT $FTT

#FTX Anyone having signal for FTX shorting please share.

The historic coin season is not far away...

⚡ FTX's $16B recovery will lead to a crazy rise in altcoins

💰 A $100 investment can turn into $1000 with the right altcoins

If interested, comment and follow me, I will give you low-value coins that will make ×100 🔥

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#Altcoinseason2024 #Altcoins👀🚀 #FTX

🚨 FTX Repayments Begin: $16B to Creditors 🚨
Starting today, Jan 3, 2025, FTX kicks off its $16B repayment plan under court approval. Here’s the breakdown:
🔹 Jan 3: Initial Distribution Record Date
🔹 Feb/Mar: $1.2B first wave for claims under $50K (119% payout)
🔹 Claims over $50K: ~$10.5B set for later

#FTX #CryptoNewss #Crypto

🔊 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?

#Bitcoin #Altcoins $ETH $BTC $BIO

#FTX FTX has gone from being a symbol of innovation to a cautionary tale. Its collapse shook the market, but it also left key lessons for creating a safer and more transparent crypto ecosystem. Do your research before you invest!

#FTX **FTX: Beyond the Collapse, Its Lost Potential 🚀**

FTX wasn't just an exchange, it was a **growing ecosystem** with advanced tools for traders, derivatives and options markets, and even high-level sports sponsorships. Its vision went beyond crypto: it wanted to be **the financial infrastructure of the future**.

**What made it different?**
- **Constant innovation:** FTX offered unique products such as tokenized futures and synthetic stocks.
- **Global accessibility:** Low fees and ease of operation attracted millions.
- **Aggressive expansion:** Strategic purchases and marketing made it quickly position itself as a leader.

**Lost potential:**
FTX promised to revolutionize the financial industry by integrating blockchain with traditional services. Its collapse put a stop to that dream, but **demonstrated the demand for decentralized and transparent solutions**.

**Key lesson:**
FTX had the potential to be a game-changer, but its failure underscored a core principle in crypto: **trust the code, not the promises.** The future remains wide open for those who build on real trust and decentralization.

FTX starts $16B creditor repayment, boosting market optimism. Morgan Stanley's E-Trade eyes crypto trading. Bitcoin's Genesis Block celebrates 16 years. Fed rates likely unchanged. #Crypto #Bitcoin #FTX