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FTX Begins Creditors’ Repayments After Two Years of Bankruptcy Bitstamp Commits to Accelerate Mt. Gox Payouts to Creditors Bankrupt Crypto Exchange FTX Lines Up $16 Billion To Repay Creditors

Jan / 01
- FTX Begins Creditors’ Repayments After Two Years of Bankruptcy
  
  Jan 01, 1970 at 08:00 am TheNewsCrypto
  
  FTX, which filed for bankruptcy in 2022, has begun repaying creditors under a court-approved plan. The initial phase focuses on small claims under $50,000, expected to be settled within 60 days. The Debtors Plan, effective since January 2025, aims to distribute $14.7-16.5 billion to creditors, representing nearly 119% of claimed account value. Despite criticism over using crypto prices from the collapse date, market analysts speculate FTX's repayments could stimulate the crypto market.
- Bitstamp Commits to Accelerate Mt. Gox Payouts to Creditors
  
  Jan 01, 1970 at 08:00 am TheNewsCrypto
  
  Bitstamp has announced plans to accelerate the reimbursement process for Mt. Gox creditors, aiming to distribute tokens earlier than the stipulated 60-day timeframe. This follows reports of compensation being received by Japanese creditors through other exchanges. Bitstamp's swift response provides clarity on the repayment schedule for its customers, prioritizing customer service amidst the ongoing Mt. Gox reimbursement process.
- Bankrupt Crypto Exchange FTX Lines Up $16 Billion To Repay Creditors
  
  Jan 01, 1970 at 08:00 am Bitcoinist
  
  Bankrupt cryptocurrency exchange FTX unveils a comprehensive reimbursement plan, aiming to repay creditors and customers in full, with a potential compensation of billions. The plan involves distributing 98% of its customers' claims and leveraging assets worth $14.5-$16.3 billion to facilitate payments. FTX outlines a detailed repayment strategy, including a subordination arrangement for governmental creditors and a "convenience class" for smaller creditors. Key settlements, such as the resolution of IRS claims and agreements with the CFTC, are disclosed within the plan. The amended repayment strategy requires Bankruptcy Court approval, with creditors expected to receive 118% of their allowed claims within 60 days of its effective date.