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FTX to Begin Customer Repayments in Early 2025
In a major development, it has been announced that FTX will start making repayments to its customers and creditors as early as January 2025. This move comes after the company’s recovery efforts have been deemed successful.
As reported, the repayment plan is set to take effect in January next year, with the first distributions expected to begin shortly thereafter. The timeline for this process has been made possible due to the outstanding success of the recovery efforts, which have put FTX in a strong position to execute the distribution of recoveries back to all customers and creditors.
FTX’s collapse in November 2022 sent shockwaves throughout the cryptocurrency market, with five top executives subsequently arrested or sentenced. The company has been working tirelessly to resolve the situation and make amends with its stakeholders.
The news comes as a relief to those affected by FTX’s bankruptcy, many of whom have been waiting anxiously for a resolution. In response, BitGo CEO Mike Belshe took to social media to comment on the development.
Source: coinjournal.net
