According to BlockBeats news on December 29, data disclosed by HODL15Capital shows that FTX will include $16 billion in cash in the first round of repayment distributions that will officially take effect on January 3, 2025.
BlockBeats previously reported that on December 17, FTX and its affiliated debtors announced that the court-approved Chapter 11 reorganization plan will officially take effect on January 3, 2025. The first round of distributions will begin within 60 days after the effective date, only for approved creditors in the Convenience Classes. FTX has reached agreements with cryptocurrency custodian BitGo and trading platform Kraken to provide asset distribution services for retail and institutional clients. To qualify for the first round of distributions, users must complete the following steps before January 3, 2025:
Log in to the FTX Debtor Client Portal; complete KYC verification; submit necessary tax forms; register with BitGo or Kraken.