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FTX has confirmed its readiness to begin repayments for Bahamas creditors this month, ahead of larger disbursements expected in Q1 2025.
FTX Bahamas will start creditor repayments on Feb. 18 via BitGo, one of its distribution partners selected during bankruptcy restructuring hearings. Sunil Kavuri, a spokesperson for the largest FTX creditor group <a href="https://x.com/sunil_trades/status/1886796657259376733" target="_blank" rel="noopener noreferrer nofollow">noted</a> that individual Bahamas payment claims would be capped at $50,000.
The court-approved reorganization plans became effective from Jan. 3, requiring creditor repayments to begin <a href="https://crypto.news/ftx-to-begin-creditor-repayments-by-march-2025/" target="_blank" rel="noopener noreferrer nofollow">within</a> 60 days. Court filings showed that the defunct crypto exchange has $13 billion in payout reserves.&nbsp;
However, the estate has filed to withhold 50% of this amount for disputed claims. The total sum allocated to Bahamas creditors remains unclear.
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 FTX Repayments: 18 Feb 2025 Funds available from 10am ET FTX Claims &lt; $50k FTX Creditors in the Bahamas process have email confirmation that repayments will start on 18 Feb 2025 9% interest per annum from 11 Nov 2022 <a rel="noopener noreferrer nofollow" href="https://t.co/frmdn4qik7" target="_blank">pic.twitter.com/FrmDN4qiK7</a>— Sunil (FTX Creditor Champion) (@sunil_trades) <a href="https://twitter.com/sunil_trades/status/1886796657259376733?ref_src=twsrc%5etfw" target="_blank" rel="noopener noreferrer nofollow">February 4, 2025</a>
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Previously based in the Bahamas, FTX collapsed in 2022 under the leadership of its founder, Sam Bankman-Fried. Investigations uncovered corporate mismanagement and fraud, allegedly orchestrated by the one-time crypto tycoon.
Analysts estimate that FTX’s collapse created a $16 billion shortfall. Reorganization administrators, led by bankruptcy CEO John J. Ray III, anticipate that asset recovery efforts could extend until 2027.
Meanwhile, Bankman-Fried was convicted on multiple criminal charges, including fraud, and sentenced to 25 years in prison. He has since alleged judicial bias, requested a new trial, and his parents have reportedly <a href="https://crypto.news/sam-bankman-frieds-parents-want-trump-to-pardon-son-report/" target="_blank" rel="noopener noreferrer nofollow">sought</a> a pardon from President Donald Trump.
Members of SBF’s former inner circle, such as former Alameda Research CEO Caroline Ellison, received lighter sentences and forfeited wealth gained while working for FTX.
Read more: <a href="https://crypto.news/aixbt-misreports-ftxs-13b-creditor-distribution/" rel="noopener noreferrer nofollow"> </a>

FTX Bahamas repayments to start on Feb. 18

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