FTX to Repay $16 Billion in Stablecoins to Creditors, Starting January 2025, Within 60 Days

Dec 29, 2024, 04:24 PM

FTX, the cryptocurrency exchange, is set to begin repaying $16 billion in cash to its creditors starting January 3, 2025. The repayment process, part of FTX's reorganization plan, will involve distributing the funds in stablecoins. Claims processing will commence on the specified date, with payments expected to be disbursed within 60 days. The companies BitGo and Kraken have been announced as partners to assist in the distribution of the funds back to customers.