Creditors of the CryptoCurrency Exchange FTX with claims below $ 50,000 began to receive their payouts, which included a 9% annual interest accumulated from November 2022.
Multiple users in FTX subreddit have reported acceptance The funds in the Crypto Exchange Accounts Kraken with added interest in the top. Creditors are set to receive about 119% of their adjudicated claim value, according to the bankruptcy plan.
Arkham Intelligence also points to FTX’s purse flows as evidence of payments, which it says is expected to be total around $ 1.2 billion.
FTX users receiving funds
Users with FTX claims under $ 50,000 began receiving funds today by distribution providers Kraken and Bit.
The wave of these creditors represents approximately $ 1.2B value. pic.twitter.com/sfgdsnorbs
– Arkham (@arkham) February 18, 2025
Creditors with claims exceeding the $ 50,000 threshold are set to begin to receive their payments in the second quarter, with nearly $ 16 billion set to be distributed altogether.
The funds are distributed to the US dollar by both BitGo and Kraken. According to screenshots shared with Reddit, Kraken also distributed trading-fee credits to users. The move is seen as a way for Kraken to distribute payouts without profit from them.
