FTX will repay $16 billion in cash, and claims processing will begin on January 3, 2025

Odaily Planet Daily News: HODL15Capital announced in an article on X that FTX will begin repaying $16 billion in cash, and claims processing will begin on January 3, 2025. Previously, it was reported that customers affected by FTX bankruptcy will be able to obtain bankruptcy distributions through Kraken and BitGo, and the plan will take effect on January 3, 2025. FTX stated in a statement that the "initial allocation" is expected to take place within 60 days after the effective date. Previously, representatives of Sunil Kavuri, FTX's largest creditor group, pointed out that FTX has announced two distribution partners, Kraken and BitGo, with a third one to be announced soon. Kavuri added that funds can also be distributed through stablecoins.