The FTX debtors' restructuring plan has come into effect, and the first batch of customers will receive refunds within 60 days!

The FTX debtors' restructuring plan came into effect today. Customers need to file claims through the official website to be eligible for refunds, and FTX stated that the first group of customers should receive refunds within 60 days.

According to the FTX plan, the first batch of 'convenience class' users will be repaid first, including users with claims of $50,000 or less. The plan was approved in October, which stipulates that 98% of FTX users are expected to receive reimbursements of 119% of their declared value of funds.

Cryptocurrency companies BitGo and Kraken announced in December that they would assist in distributing compensation to FTX users. Assuming all users submit complete claims, the exchange expects to pay out approximately $16 billion. #BTC