Ruined cryptocurrency exchange FTX plans to repay $1,9 billion in customer debt in September 2025.
On August 15, the company’s employees will compile a list of creditors who can expect a refund. In particular, among them will be traders who, for some reason, did not receive compensation during previous payments. Money will begin to be transferred to users on September 30.
The funds will be distributed by the providers of the FTX compensation payment service [BitGo, Kraken and Payoneer]. The money will be transferred to eligible people whose applications were approved, the exchange said.
According to FTX requirements, lenders must register on one of three platforms (BitGo, Kraken and Payoneer), undergo identification and fill out tax forms. Residents of Russia, China and other countries where the turnover of digital assets is limited do not want to return their money, citing legal risks. Therefore, the Chinese Weiwei Ji is trying through the court to obtain compensation for yourself and your fellow sufferers.
FTX has already paid off its debt twice this year. In February, the trading platform transferred between $6,5 billion and $7,5 billion, and in May – over $5 billion. In total, the company plans to return $14,5 billion to creditors, so the September payment may be the last.