Bahamian FTX creditors seeking up to $50,000 will receive repayments starting February 18

Odaily Planet Daily News According to a statement on Tuesday, during the repayment process in the Bahamas, FTX Digital Markets creditors with claims of up to $50,000 (i.e., Convenience Class creditors) will begin receiving repayments on February 18. Based on the value of the claims on November 11, 2022, creditors will receive an annual interest rate of 9%, which is the first time that funds have been repaid to creditors after the company's restructuring and creditor repayment proposals in many years. In November 2024, FTX estate estimated that repayments for creditors with claims of less than $50,000 will begin in March 2025, with an estimated compensation of approximately 118%. FTX Digital Market's liquidator PricewaterhouseCoopers has said that non-Convenience Class creditors are expected to receive repayments in the second fiscal quarter of this year, and digital asset custodian BitGo will process these repayments for individuals, institutions and other creditors and send repayments in US dollars. (The Block)