FTX plans to start paying compensation in January 2025
FTX has published a statement regarding the start of payouts.
It says the company is likely to start distributing funds in early January.
The first customers will receive compensation within 60 days of the plan becoming effective.
The FTX crypto exchange will begin paying compensation to creditors and users in early 2025. This follows from the company's official press release.
It also provides an approximate schedule of this process. It looks like this:
beginning of December 2024. Completion of agreements with compensation distribution agents. Users will receive detailed instructions on creating an account on the client portal;
the end of December 2024. The stock exchange will announce the exact date of entry into force of the company's reorganization plan after the relevant court ruling;
beginning of January 2025. The plan is expected to take effect at that time. After that, the first distribution will take place within 60 days.
The release also states that in order to receive compensation in the first wave, it is necessary to create an account on the distributor's portal, go through the KYC procedure and provide all the necessary information.
