Creditors for the collapsed cryptocurrency exchange FTX with claims below $ 50,000 have begun to receive their payouts, which includes 9% annual interest rate accrued since November 2022.
Several users at FTX SUBITTDIT have reported having received funds on accounts on the Crypto Exchange Kraken with the extra interest on top. Creditors are scheduled to receive approx. 119% of their assessed claim value, according to the bankruptcy plan.
Arkham Intelligence also points to FTX’s wallet outflow as evidence of the payments, as it says is expected to amount to around $ 1.2 billion.
FTX users who receive funds
Users with FTX requirements of less than $ 50,000 have begun to receive funds today through distribution providers Kraken and Bitgo.
This wave of creditors represents about $ 1.2 B value. pic.twitter.com/sfgdsnorbs
– Arkham (@arkham) February 18, 2025
Creditors with claims exceeding $ 50,000 threshold are set to start receiving their payments in the second quarter, with about $ 16 billion to be distributed in total.
The funds are distributed in US dollars through both Bitgo and Kraken. According to screens that were shared on Reddit, Kraken also distributed trade in fees to users. The move is seen as a way for Kraken to distribute the payouts without taking advantage of them.
