FTX restructuring plan will take effect on January 3, 2025 and includes $16 billion in cash distribution

According to data disclosed by HODL15Capital, FTX's first round of repayment distribution, which will officially take effect on January 3, 2025, will include $16 billion in cash.

Previously reported on December 17, FTX and its affiliated debtors announced that the court-approved Chapter 11 restructuring plan will officially take effect on January 3, 2025. The first distribution will be launched within 60 days after the effective date, only for approved creditors in the Convenience Classes category. FTX has reached agreements with cryptocurrency custodian BitGo and trading platform Kraken to provide asset distribution services for retail and institutional clients.