💰 FTX Begins Paying Out Creditors

🚾 FTX has started the process of compensating its customers as part of its reorganization plan.

📊 Between $14.7 billion and $16.5 billion is expected to be paid to customers, but this is unlikely to have a major impact on the market.

🔙 According to K33 Research, about $2.4 billion may eventually flow back into the market once all creditors are paid.

💡 First to receive payments: Customers with claims of $50,000 or less, who will collectively get around $1.2 billion. Larger claims will be settled in later stages.

📝 All creditors must complete KYC and provide tax documents via the FTX client portal to proceed with the payments.

It’s a long road ahead, but progress is being made. 🛤️