Creditors of the Cryptocurrency Exchange FTX collapsed with claims of less than $ 50,000 have begun to receive their payments, which include 9% annual interest accumulated since November 2022.
Multiple users at the FTX Subreddit have reported that they received funds in Crypto Exchange Kraken accounts with the additional interest in the upper part. The creditors are scheduled to receive approximately 119% of their claim value awarded, according to the bankruptcy plan.
Arkham Intelligence also points out FTX’s wallet outings as evidence of payments, which says they are expected to total about $ 1.2 billion.
FTX users who receive funds
Users with FTX claims of less than $ 50,000 have begun to receive funds today through the Kraken and Bitgo distribution providers.
This wave of creditors represents approximately $ 1.2b in value. pic.twitter.com/sfgdsnorbs
– Arkham (@arkham) February 18, 2025
Creditors with claims that exceed the threshold of $ 50,000 are established to start receiving their payments in the second quarter, with around $ 16 billion that will be distributed in total.
The funds are distributed in US dollars through Bitgo and Kraken. According to Shared screenshots in Reddit, Kraken also distributed commercial fees to users. The measure is seen as a way for Kraken to distribute payments without benefiting from them.
