HODL15Capital said in a post on X that FTX will begin repaying $16 billion in cash, and claims processing will begin on January 3, 2025.
Earlier, it was reported that customers affected by FTX's bankruptcy will be able to obtain bankruptcy distributions through Kraken and BitGo, and the plan will take effect on January 3, 2025. FTX said in a statement that the "initial distribution" is expected to take place within 60 days of the effective date.
Earlier, a representative of Sunil Kavuri, the largest creditor group of FTX, pointed out that FTX announced two distribution partners, Kraken and BitGo, and the third one will be announced soon. Kavuri added that funds can also be distributed through stablecoins.