The FTX collapse that rocked the crypto world in late 2022 is trending toward a happy ending—for some investors, at least. This week, FTX’s bankruptcy estate began repaying customers who lost their assets after the platform’s bankruptcy—a resolution that once seemed impossible.

The defunct FTX crypto exchange has begun repayment for users with claims worth $50K or less. Reportedly, about $1.2B will be distributed in the first phase for this category of claims, also known as the ‘convenience class’ through Kraken and BitGo.

The estate of bankrupt crypto exchange FTX has begun distributing cash to creditors more than two years after Sam Bankman-Fried’s trading platform imploded.

FTX's bankruptcy estate is beginning with small claims customers, disbursing $1.2 billion worth of repayments in this initial round.

Bitcoin plunged Tuesday after FTX revealed it was starting initial customer repayments over two years since the exchange's collapse, as lingering concerns re-emerge over the potential market and sentiment implications of the refunds.

FTX Digital Markets, the Bahamian branch of the collapsed cryptocurrency exchange, will repay $1.2 billion to its first group of creditors on February 18, 2025. This marks an important step in the exchange’s bankruptcy process following its dramatic $9 billion collapse in 2022.

The insolvent crypto exchange will start repaying its creditors tomorrow, February 18. The initial disbursement will prioritize “Convenience Class” creditors, who claim $50K or less. HODL15Capital 🇺🇸@HODL15Capital·Follow FTX distributions finally start this week 👇 6:58 AM · Feb 17,