Overview

Creditors of the defunct cryptocurrency exchange FTX with claims below $50,000 are beginning to receive their distributions, which include 9% annual interest accrued since November 2022.

Key Details

• Creditors are slated to receive approximately 119% of their adjudicated claim value, totaling around $1.2 billion.
• The funds are being disbursed in U.S. dollars through BitGo and Kraken.

Background

Numerous users on the FTX subreddit have claimed they are receiving funds in their Kraken accounts, along with the accrued interest. According to the bankruptcy plan, these distributions occur as part of the financial recovery strategy following FTX’s collapse.

Arkham Intelligence has also indicated that FTX’s wallet outflows are evidence of ongoing payments, with the total expected payouts reaching around $1.2 billion.

Looking Ahead

Creditors with claims exceeding $50,000 are anticipated to start receiving their distributions in the second quarter, as part of the plan to distribute around $16 billion in total.

Recent Quote

“FTX USERS RECEIVING FUNDS”
Users with FTX claims of under $50,000 have started to receive funds today through distribution providers Kraken and BitGo. This wave of creditors represents approximately $1.2B in value. pic.twitter.com/SFGdsNOrBS
— Arkham (@arkham) February 18, 2025