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Breaking: FTX to Begin Repayments to Creditors From February 18
In a significant development, it has been announced that FTX will start making repayments to its creditors from February 18. According to an email sent to FTX creditors, the company will begin reimbursing investors for their lost assets.
The repayment process is set to commence at 10 AM ET on February 18 and will only cover claims under $50,000. It’s worth noting that these early payments will be limited to creditors in the Bahamas process, with former users in other categories expected to receive payments starting March 4.
For those who will be receiving payments through BitGo, a crypto custody platform, an email notification has been sent detailing the specifics of the repayment schedule. The Joint Official Liquidators of FTX have stated that they are pleased to inform creditors that all required steps have been completed to make them eligible for a distribution related to their Convenience Class claim.
This news marks a major milestone in FTX’s bankruptcy process, as it will finally bring some closure to investors who lost assets due to the company’s collapse in 2022.
Source: coinpedia.org
