Creditors of the FTX cryptocurrency exchange, which went bankrupt in November 2022, will begin to receive their money back in January 2025.
Representatives of the trading platform сообщили , that the court approved the company's business reorganization plan, which will take effect on January 3 of next year. Therefore, within 60 days from the date of putting this plan into effect, the company will distribute the first part of the funds allocated for debt repayment.
To fulfill its obligations to creditors, FTX management entered into a partnership agreement with a crypto exchange Creak and digital asset custody firm BitGo. The two entities will help transfer financial assets to both FTX's retail and institutional clients who are seeking refunds.
To receive money, FTX users need to:
- Go to the FTX lender website and verify your details.
- Fill out the forms.
- Register on the BitGo platform or Creak .
It is obvious that FTX employees will transfer funds to creditor accounts created on the exchange Creak or the BitGo website. Accordingly, these companies will act as intermediaries. In total, FTX plans to return assets worth up to $16,5 billion to clients. 98% of this amount is planned to be transferred within 60 days after the business reorganization plan comes into force, that is, the lion's share of the money will be distributed before March 4.
