Summary
- It was reported that the creditor repayment plan for the bankrupt cryptocurrency exchange FTX has been officially enacted.
- Creditors with claims under $50,000 are expected to receive 119% of their claims within 60 days.
- FTX users are urged to complete KYC and W-8 Ben forms to prevent repayment delays.
The creditor repayment plan for the bankrupt cryptocurrency exchange FTX has been officially enacted.
On the 2nd (local time), Sunil Kaburi, the representative of the largest creditor group of FTX, announced on X that "The FTX creditor repayment plan was officially enacted on January 3rd (local time)" and "creditors with claims under $50,000 are expected to receive 119% of their claims within 60 days." He urged that "to prevent repayment delays, FTX users should complete the Know Your Customer (KYC) and W-8 Ben forms" and "also complete registration through distribution partners (BitGo, Kraken)."
Previously, FTX had stated in a press release that "FTX's creditor restructuring plan would be implemented in early January."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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