As the court-approved Plan of reorganization goes into effect on January 3, 2025, collapsed cryptocurrency exchange FTX will begin distributing funds to investors who lost money through partner crypto firms like Kraken and BitGo.
The distribution process is expected to start within 60 days after the effective date, with the initial distribution limited to the plan’s convenience classes.
Specific payment dates for other claim classes will be announced in the future. Over the past two years, FTX has worked with a team of professionals to recover billions of dollars.
CEO John J. Ray III says the success of this process marks the end of a long journey. In preparation for the distribution, FTX has partnered with two major entities, BitGo and Kraken, to handle distribution in jurisdictions where they are supported.
