Key Highlights:
• FTX will repay creditors with claims under $50,000 starting February 18, 2025, through BitGo.
• Creditors will receive 100% of their approved claims, plus 9% interest, calculated from FTX’s collapse on November 11, 2022.
• Errors in account details must be fixed by February 6, or the funds could be permanently lost—no second chances.
Yello Paradisers! If you’re an FTX creditor, mark your calendar, set an alarm, and maybe even light a candle for good luck—because February 18, 2025, is the day you might finally get your money back.
After nearly three years of bankruptcy drama, FTX is set to repay creditors owed less than $50,000, with payouts processed through crypto custodian BitGo.
But, in classic FTX fashion, there’s a deadline that could make or break your chances of actually receiving those funds. Any errors in your account details must be corrected by February 6, or—brace yourself—you’re stuck with the mistake, and the money may never reach you. Yes, FTX’s repayment plan comes with an asterisk: “first and final distribution”—no do-overs, no appeals.
How Much Will Creditors Actually Get?
The good news? FTX isn’t just refunding claims—they’re adding a little interest too.
• Each approved creditor will receive their full claim amount, plus 9% interest per year.
• The interest is calculated from November 11, 2022 (a.k.a. the day FTX imploded), up until the February 18, 2025 payout date.
• For example, someone owed $45,000 will receive thousands of dollars extra in accumulated interest.
But before you start planning your victory lap, there’s one more hurdle—you won’t be able to access the funds right away, even if BitGo shows them as “confirmed.”
According to FTX’s Joint Official Liquidators (JOLs), some users might see their payout as a pending transaction up to 10 days before February 18, but the funds won’t be available until exactly 10 a.m. ET on that date.
Who’s Getting Paid First—and Who’s Still Waiting?
This first batch of repayments only applies to creditors under the Bahamas liquidation process. If you were expecting an FTX payday but aren’t part of that category, you’ll need to wait until at least March 4 for your turn.
For those eligible, the email notification from the JOLs reads:
“The Joint Official Liquidators of FTX are pleased to inform you that you have completed all the required steps to be eligible to receive a distribution related to your Convenience Class claim and that a payment will be made to your nominated account.”
Sounds reassuring—except when you remember that FTX’s name is still synonymous with “trust issues” in the crypto world.
Lessons from the FTX Collapse: The Crypto Industry’s $32 Billion Cautionary Tale
FTX’s bankruptcy remains one of the most chaotic financial implosions in crypto history, dragging down billions of dollars in customer funds and sparking legal battles that are still ongoing.
Since then, the value of lost crypto assets has skyrocketed, making the repayment process even more complex. In response, FTX has added 9% post-petition interest to help cover some of the financial gaps created by the long bankruptcy process.
While some creditors might finally breathe a sigh of relief, the real question remains: will FTX’s name ever shake off its reputation as crypto’s biggest disaster? One thing’s for sure—this repayment process will be watched closely, and any missteps could spark yet another round of legal chaos.
So, if you’re eligible for repayment, double-check your BitGo account, fix any errors by February 6, and cross your fingers. Because in the world of crypto bankruptcy payouts, nothing is guaranteed until the funds actually land in your wallet.
