Creditors of the Cryptocurry FTX cryptocurrency exchange with complaints less than $ 50,000 have started to receive their payments, which include annual interests of 9% accumulated since November 2022.
Several users of the SUDREDDIT FTX said they had received funds on Crypto Exchange Kraken accounts with additional additional interest. Creditors should receive around 119% of their claim value deemed, according to the bankruptcy plan.
Arkham Intelligence also pointing out of FTX portfolio as proof of payments which, according to him, should total around $ 1.2 billion.
FTX users receive funds
FTX claims users of less than $ 50,000 began to receive funds today through Kraken and Bitgo distribution suppliers.
This wave of creditors represents about $ 1.2 billion in value. pic.twitter.com/sfgdsnorbs
– Arkham (@arkham) February 18, 2025
Creditors with complaints exceeding the $ 50,000 threshold should start to receive their payments in the second quarter, with around 16 billion dollars which should be distributed in total.
Funds are distributed in US dollars via Bitgo and Kraken. According to shared screenshots on Reddit, Kraken has also distributed commercial billing credits to users. This decision is considered a way for Kraken to distribute payments without taking advantage of it.
