FTX to Repay Debts! Claimants with Debts of $50,000 or Less to Receive Claims at the Earliest Possible Time

FTX to Repay Debts! Claimants with Debts of $50,000 or Less to Receive Claims at the Earliest Possible Time

FTX to Repay Debts! Claimants with Debts of $50,000 or Less to Receive Claims at the Earliest Possible Time

FTX creditor representative Sunil has disclosed the repayment schedule on the X platform.

According to his tweet, the first round of repayment plan will target “Convenience Classes” creditors with debt amounts below $50,000. The total repayment amount for this round is approximately $1.2 billion and is expected to commence as early as February 25th, with the distribution period possibly lasting until March 4th.

FTX requires creditors to complete the pre-allocation process, including claiming registration, before January 20th. This process includes selecting a platform for claiming the compensation, with Kraken and Bitgo currently being supported service providers.