FTX, the collapsed cryptocurrency exchange, is set to begin repaying $16 billion to its customers and creditors on January 3, 2025. The repayment plan, approved in October, aims to return 98% of losses to most customers, with some receiving up to 119% of their claimed account value. The repayment will prioritize claims under $50,000. FTX CEO John J. Ray III has expressed confidence in the plan, noting its potential to restore confidence in the cryptocurrency industry. The repayment could also boost the cryptocurrency market, as many creditors are expected to reinvest in digital assets like Bitcoin and Ethereum. The involvement of companies like Kraken and BitGo in handling the repayment underscores the industry’s growing reliability. The move is seen as a major step in restoring investor confidence and could contribute to an upward trend in the cryptocurrency market.

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