The FTX crypto exchange going down will forever be remembered as a dark day in crypto. But props to the company for finally starting to repay creditors. It went through with its first round of repayments on February 18, where it paid out the ‘Convenience Class,’ i.e., investors who lost up to $50K.
The next FTX repayment distribution will happen on May 30. In addition to the company’s trading partners and vendors, this round will address investors who had assets on the exchange when it went under.
It’s worth noting, however, that in order to qualify for this round of distribution, FTX creditors must verify their claims by April 11.
FTX Faces Claims from Ineligible Jurisdictions
Amid the bankruptcy-repayment saga, FTX creditor and advocate Sunil Kavuri took to X to share a list of 163 countries that are allegedly ineligible for repayment. The list includes countries like China, Russia, Nigeria, Egypt, and Ukraine.
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