According to the official announcement, the FTX debtor restructuring plan has taken effect today. Customers need to file claims through the official website to be eligible for refunds, and FTX states that the first group of customers should receive refunds within 60 days.
According to FTX's plan, the first group of 'convenience category' users will be repaid first, including those with claims of $50,000 or less. This plan was approved in October, which stipulates that 98% of FTX users are expected to receive a repayment of 119% of their declared value of funds.
According to previous reports, cryptocurrency companies BitGo and Kraken announced in December that they would assist in compensating FTX users. Assuming all users submit complete claims, the exchange expects to pay approximately $16 billion.