FTX Creditors Get Relief: BitGo and Kraken Set Jan. 3 for Payment Distribution

FTX and its debtors have set January 3, 2025, as the start date for creditor payments under their Chapter 11 Reorganization Plan. Partnering with BitGo and Kraken, FTX will distribute funds to approved creditors who complete KYC verification, submit tax documents, and register via the claims portal.

Payments are expected within 60 days of the plan’s launch. FTX CEO John J. Ray III called this milestone a reflection of successful recovery efforts following the company’s massive bankruptcy. Claimants must ensure their information is up to date by January 3 and stay alert for phishing scams. As only official FTX channels will provide updates.

Clever Robot News Desk 17^th December 2024