An email was sent to FTX creditors stating that the distribution of funds will begin on February 18. Initially, compensation payments to investors affected by the platform's collapse will be limited to $50,000 per claim.
It is known that payments in this category will be processed through the BitGo cryptocurrency client. As the official liquidators of the exchange emphasized, all necessary actions to receive payments on creditors' claims have been completed, and payments will begin to arrive to the specified accounts.
An interesting nuance is that the first payments will be received only by FTX creditors involved in the legal proceedings in the Bahamas, where the company itself is registered. As for the rest of the categories of users, they will begin to receive compensation from the beginning of March.
The FTX exchange collapse in 2022 had a major impact on the crypto market. Since then, the crypto assets that investors lost have risen significantly in price since the trading platform collapsed. For this reason, affected users will receive an additional 9% of their debt amount in interest for each year starting November 11, 2022.
After the exact date for the start of payments to creditors became known, token FTT ecosystem demonstrated growth of 12%.
