PANews, December 17 - According to an announcement from FTX, its court-approved Chapter 11 reorganization plan will take effect on January 3, 2025, and is set as the record date for the first distribution. The first distribution is expected to be completed within 60 days after the effective date, applicable to approved claims in the convenience class. FTX has partnered with BitGo and Kraken to assist in distributing recovery funds to customers and creditors. Distribution requirements include completing KYC verification, submitting tax forms, and interfacing with designated service providers. FTX reminds users to be vigilant against phishing emails and scam websites, and will announce distribution dates for other class claims in the future.