Customers who held balances of $50,000 or less on FTX will receive the first repayments in early 2025. The plan takes legal effect on 3 January 2025. Payments must reach eligible accounts within sixty calendar days after that date.

The court approved bankruptcy blueprint advertises a 119 % recovery rate for most account holders, yet it measures value at the November 2022 dollar price of each token. Bitcoin traded near $16,800 then – it now changes hands above $67,000. Solana along with other assets show similar gaps. Customers therefore receive more dollars than they lost yet forfeit the appreciation those coins would have delivered.

Kraken but also BitGo will handle the technical distribution. Kraken will credit the fiat value to user wallets – BitGo will manage segregated cold storage for any tokens earmarked for institutional claimants.

More than two years after the exchange halted withdrawals, the first funds will move in the new year. FTX chief executive John J. Ray III stated on Monday that the estate “stands ready to execute the distribution schedule for all customers and creditors.”

Repayment starts only after claimants satisfy identity verification, tax forms in addition to release agreements. The estate calls the first wave the “convenience class.” Larger claims will follow in later tranches – the schedule for those remains unpublished.

The recovery pool totals between $14.7 billion and $16.5 billion. The estate amassed the sum through asset sales, clawbacks next to litigation settlements. A Delaware judge signed the reorganization plan in October 2023.