#FTXrepayment Over two years after its collapse in late 2022, cryptocurrency exchange FTX has initiated repayments to its customers. The first distribution occurred on February 18, 2025, with subsequent payments scheduled for April 11 and May 30. FTX plans to return between €12.3 billion and €15 billion in recovered assets, utilizing platforms like BitGo and Kraken for the process. Notably, customers are expected to receive approximately 118% of their claimed amounts, with potential interest up to 9%. This prioritization ensures that customer repayments take precedence over governmental claims.

The repayment strategy, approved by the Delaware bankruptcy court in October 2024, is part of FTX's structured plan to restore funds to its users. The company has amassed between $14.7 billion and $16.5 billion for distribution, aiming to compensate 98% of users more than their initial losses, based on account values from November 2022. However, customers have missed out on significant gains in the crypto market since that time.

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FTX's downfall was precipitated by a liquidity crisis and allegations of fund mismanagement, leading to its bankruptcy filing in late 2022. Founder Sam Bankman-Fried received a 25-year prison sentence for fraud, while other executives faced varying legal consequences. The company's repayment efforts mark a significant step toward rectifying the financial damage inflicted on its clientele.

While the repayment process is underway, some creditors have expressed concerns regarding the valuation methods of their claims and potential tax implications. Despite these issues, the approved plan signifies a substantial move toward compensating those affected by FTX's collapse.