#FTXrepayment
The FTX repayment process is currently underway, with the first batch of payments starting on February 18, 2025 . This initial payout is estimated to be between $6.5 billion and $7.5 billion, with approximately 162,000 claims out of an estimated 460,000 creditors being covered in this first round .
Here's a breakdown of the repayment plan:
- *Eligible Creditors*: Those with claims of $50,000 or less, making up about 98% of creditors, will be repaid first .
- *Repayment Structure*: Creditors will receive 100% of their claim value, plus an additional 9% interest calculated from November 11, 2022, until the payment date .
- *Distribution Partners*: Payments will be processed through BitGo and Kraken to ensure secure transactions .
- *Total Payout*: FTX plans to distribute approximately $17 billion, with $7 billion set aside for the first phase .
@Binance News @Binance Square Official
#Binance
The FTX repayment process is currently underway, with the first batch of payments starting on February 18, 2025 . This initial payout is estimated to be between $6.5 billion and $7.5 billion, with approximately 162,000 claims out of an estimated 460,000 creditors being covered in this first round .
Here's a breakdown of the repayment plan:
- *Eligible Creditors*: Those with claims of $50,000 or less, making up about 98% of creditors, will be repaid first .
- *Repayment Structure*: Creditors will receive 100% of their claim value, plus an additional 9% interest calculated from November 11, 2022, until the payment date .
- *Distribution Partners*: Payments will be processed through BitGo and Kraken to ensure secure transactions .
- *Total Payout*: FTX plans to distribute approximately $17 billion, with $7 billion set aside for the first phase .
@Binance News @Binance Square Official
#Binance