I believe that many people have received a letter from FTX Digital Markets Ltd. (FTX Bahamas entity) before the weekend. FTX Digital’s first creditors meeting was successfully held in the Bahamas on March 15, 2024. FTX Digital’s claim was mentioned in the meeting The application will be postponed to June, and it also reiterates its commitment to make the first repayment to eligible creditors before the end of 2024.

The money will be paid back at the end of 2024!

FTX Digital’s first creditors’ meeting was successfully held in the Bahamas on March 15, 2024. The resolution to establish a liquidation committee was unanimously adopted. The committee is currently being organized officially, and the issues and cases from the meeting will also be uploaded to the official website in the future.

The meeting also reiterated the shared goals of The Bahamas and the John Ray-led liquidation and restructuring team in the United States:

First distributions to creditors with recognized claims and KYC-compliant documents by the end of 2024!

FTX Digital claims date extended to June

The Bahamas already has a cooperation agreement with the liquidation and reorganization case led by John Ray in the United States, and no matter which process is adopted, roughly the same returns will be obtained at the same time. Although the official document mentions that "customers who have filed claims in the United States still have the right to submit," in fact creditors can only receive distributions from one of the proceedings.

(Received a letter of claim from FTX? The Bahamas court explains the difference and impact from the US claims process)

If you did not complete your claim for debt in the United States within the time, you can try to apply through the FTX Digital Bahamas claims process. The previously announced deadline of May 15 may be extended to the end of June, and the official will notify the correct date in the future.

(FTX has one more channel for claiming, you can complete unfinished applications through FTX Digital before 5/15)

Legal and other professional fees that have been approved by the court were also mentioned in the meeting, and as of 1/31/2024, creditors have spent $56 million on legal fees.

This article FTX Digital claims application extended to June, will work on first repayment before year-end first appeared on Chain News ABMedia.