FTX is set to start its repayment process on January 3, 2025, focusing first on claims of 50,000 USD and below. This crucial repayment phase is managed by Bitgo and Kraken and reflects the ongoing resolution of its financial crisis dating back two years.
CEO John J RAY III of FTX Debtors assured all stakeholders of timely distributions. He emphasized the importance of completing the necessary tax forms and credential verification. This preparation ensures efficient access to USD or stablecoin compensation for eligible creditors.
The anticipated distribution of 16 billion USD could rejuvenate the cryptocurrency market. It particularly holds potential for re-energizing altcoin trading. As the repayments progress, it may enhance market liquidity, bouncing back from FTX’s previous issues.