The FTX payment plan officially came into effect on January 3, 2025, and payments to creditors will begin within 60 days. Total distributions are estimated to reach up to $16.5 billion.

The first round of reimbursements will prioritize convenience classes (creditors with allowed claims of $50,000 or less), who are expected to receive approximately 119% of the amount of their allowed claim, including principal and accrued interest, for a total of around $1.2 billion.

BitGo and Kraken have been designated as distribution administrators, and creditors must complete KYC verification and tax filings through the FTX Debtor Client Portal.

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