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FTX Announced the Expected Announcement: Payments Below $50,000 Will Be Made on This Date! - Coin Bulletin
Bankrupt cryptocurrency exchange FTX has made an important announcement regarding creditor repayments.
An important development has occurred regarding the repayments to creditors in the context of FTX's bankruptcy process.
According to statements from Sunil, representing FTX creditors, payments to investors with debts below $50,000 will begin on February 18, 2025.
Details on Payments and Claims
Distribution will be made to the beneficiaries in the 'Convenience Class' category, covering claims below 50,000 dollars, according to the payment plan executed by FTX Recovery Trust.
However, it was reported that payments will only be made to investors who meet the necessary pre-distribution conditions and have their claims approved.
It was noted that relevant rights claims will be completely terminated after the payment transactions are completed, and creditors are informed about the process via email.
This development is considered an important step for investors waiting to collect their receivables in the FTX bankruptcy process.
Payments of creditors over $50,000 are expected to be made in the coming days of 2025.