#CryptoReboundStrategy The FTX estate has officially launched its repayment plan, over two years after the exchange’s collapse in November 2022.

Convenience-class creditors with claims under $50,000 are prioritized, receiving 119% of their allowed claims within 60 days, amounting to $1.2 billion.

Larger claims exceeding $50,000 will be distributed over time from a $10.5 billion pool. 

BitGo and Kraken have been designated as the platforms to facilitate initial payouts for eligible customers.

According to the court ruling, creditors must complete KYC verification, submit tax forms, and onboard with the distribution platforms to qualify for the initial payouts.