FTX creditor representative Sunil has disclosed the repayment schedule on the X platform.
According to his tweet, the first round of repayment plan will target “Convenience Classes” creditors with debt amounts below $50,000. The total repayment amount for this round is approximately $1.2 billion, and it is expected to commence as early as February 25th, with the distribution period possibly lasting until March 4th.
FTX requires creditors to complete the pre-allocation process, including claiming registration, before January 20th. This process involves selecting the platform for claiming the compensation, currently supported by service providers Kraken and Bitgo.