HODL15Capital stated on X that FTX will begin repaying $16 billion in cash, with claims processing starting on January 3, 2025. According to previous reports, customers affected by the FTX bankruptcy will be able to receive bankruptcy distributions through Kraken and BitGo, with the plan effective from January 3, 2025. FTX stated in a release that the 'initial distribution' is expected to occur within 60 days after the effective date. Previously, a representative of FTX's largest creditor group, Sunil Kavuri, pointed out that FTX announced two distribution partners, Kraken and BitGo, with a third partner to be announced soon. Kavuri added that funds could also be distributed through stablecoins.