FTX Begins Bahamas Creditor Repayments February

FTX to Begin Bahamas Creditor Repayments on February 18

• FTX will start repaying Bahamas-based creditors on February 18.
• The initial focus is on claims under $50,000, categorized as “Convenience Class.”
• Eligible creditors will receive 100% of their claim value plus 9% interest.
• Payments will be processed by BitGo, a crypto custody platform.
• Funds will become accessible starting February 18, with transactions possibly pending up to 10 days before.

FTX’s repayment process begins nearly three years after its collapse, initially targeting claims under $50,000 in the Bahamas. Eligible creditors are set to receive full reimbursement plus a 9% interest, facilitated by BitGo starting February 18. Other creditors must wait until March for their reimbursements.