#FTXrepayment FTX has started repaying creditors today (Tuesday), beginning with those in the “Convenience Class.” This group includes creditors with claims of $50,000 or less.

These individuals will receive full repayment along with 9% annual interest accrued since November 2022. FTX has partnered with BitGo and Kraken to process the payments. Funds are expected to reach recipients within one to three business days after distribution begins.

FTX Starts Creditor Payments Under Reorganization Plan

Eligible creditors must complete KYC verification and submit tax forms to receive payments . Those who miss the deadline can still qualify for later distributions.

Creditors with claims exceeding $50,000 will receive payments starting in the second quarter of 2025. FTX plans to distribute $17 billion in total, with $7 billion allocated for the first phase, CCN reported.