FTX will start repayment in early 2025 to customers

• ftx will begin sales to customers in January 2025.
• The stock exchange collapsed in November 2022, with significant effects on the entire industry.

FTX debtor will begin with the customer distribution at the beginning of January, whereby the court-approved insolvency reorganization according to Chapter 11 on January 3. 2025 comes into force.

The collapsed crypto exchange announced announced on December 16 that the first distributions will be carried out within 60 days. The prerequisite for participation includes know-your-customer requirements (KYC) requirements. In the meantime, FTX will work together with the crypto attitude Bitgo and the Kraken crypto exchange to distribute assets to private and institutional customers.

The FTX debtors announced today that the date of the entry into force of their reorganization plan was set to January 3, 2025. This is also the date of the first distribution date for owners of permissible claims in the convenience classes of the plan. Read more here: https://t.co/7hggm5ctls

- ftx (@ftx_official) 16. December 2024

John J. Ray III, CEO of FTX DeBors, commented:

"In the past two years, our team of experts has worked meticulously and efficiently to regain billions of dollars to reach this point. to start all customers and creditors and encourage customers to take the necessary steps to start receiving the distributions in good time. ”

Mike Belshe, CEO from Bitgo, also commented About the plan and the role of Bitgo.