In the latest development, FTX will begin repayment to creditors on February 18. According to emails distributed between FTX creditors, they will begin repayment of asset loss. This payment starts at 10 am on February 18th, and applies only to claims of less than $ 50,000.
In particular, these early payments begin only for creditors of the Bahama process. Previous users of other categories begin to pay on March 4th. According to the e -mail, all repayment of this category is processed through Bitgo, a encryption custody platform.
“FTX’s joint liquidation person informs you that you have completed all the necessary steps so that you are eligible to receive a distribution related to the convenience class claim and pay for the nominated account.”
Since the FTX went bankrupt in 2022, the practical obligation to the creditor has greatly weighted the encryption market. Lost password assets have been highly valued since the collapse. Thus, creditors will receive 9%interest annually from November 11, 2022.
After months of positive signals, this is the biggest specific stage for the recovery of investor assets. This development can help to finish the chapter that is a problem in cryptocurrency and restore trust in the market.