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FTX Shares Repayment Timeline

Many FTX creditors are just weeks away from finally getting their hands on repayments.
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Dec 16, 2024 • 1 min read

On Monday, FTX announced a timeline for repaying customers and creditors by early 2025, starting with creditors.

What’s the Scoop?

  • Customer Repayments: FTX announced on Monday that FTX customers are required to complete a KYC verification, fill out tax forms, and onboard to either Kraken or BitGo to receive repayment of funds
  • First Dibs: Creditors with claims worth $50,000 or less will receive the initial distributions, those investors make up around 90% of all creditors
  • First Round of Repayments: The distribution of repayments to customers is set to be within 60 days of January 3, 2025

Bankless Take

FTX announced on Monday their plan to repay creditors and customers. It has been over 2 years since the collapse of FTX and this story might finally be coming to a close. While the collapse of FTX will go down in the history books of the crypto community, there is a lesson everyone can take from this event, not your keys, not your crypto. 

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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