FTX to Repay Creditors in 2025

FTX says creditors and former customers will start getting their money back in March 2025. The plan, announced on November 21, is set to be finalized by January, with agents beginning to process payouts in December 2024. Interim CEO John J. Ray III promised to speed up the process as much as possible.

Complaints About Payout Calculations

Some creditors are upset about how reimbursements are calculated. Payments are based on crypto prices from the bankruptcy filing date—when Bitcoin was only $16,000—resulting in much smaller payouts compared to current values.

Ongoing Lawsuits to Recover Money

FTX has filed lawsuits to reclaim millions of dollars in assets:

$50 million from KuCoin.

$11 million from Crypto.com.

$100 million tied to deals with SkyBridge Capital.

$1.8 billion in alleged fraudulent transfers to Binance and its CEO.

These lawsuits aim to recover more funds to repay creditors and customers.

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