COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: FTX Announces $16 Billion Payment Timeline for Creditors: What You Need to Know
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency Exchanges > FTX Announces $16 Billion Payment Timeline for Creditors: What You Need to Know
Cryptocurrency Exchanges

FTX Announces $16 Billion Payment Timeline for Creditors: What You Need to Know

In Brief

  • FTX plans to begin payments to creditors in February.

  • Creditors must complete requirements by January 20 to receive payments.

  • Payments are expected to positively influence the cryptocurrency market.

Fatih Uçar
Fatih Uçar 4 months ago
Share
SHARE

The FTX cryptocurrency exchange has revealed a timeline for a total of $16 billion in payments to creditors. Experts anticipate that the first payments will occur in early February, in accordance with the plan and approval order, which prioritizes payments to smaller creditors.

Contents
Start Date and Payment DetailsSecurity and Fraud WarningsImpact on the Crypto MarketCurrent Figures and Expectations

Start Date and Payment Details

Sunil Kavuri, a creditor of FTX, shared details regarding the payments in a statement on January 12. The initial round of payments is planned for creditors with claims under $50,000, amounting to approximately $1.2 billion, with the record date set for January 3.

Before the initial distribution, FTX has requested creditors to complete their requirements by January 20. Creditors must fill out W-8Ben forms and submit tax withholding forms within 30 days after KYC verification. Those who do not submit the tax form within the 60-day window will not receive their payments.

Sunil Kavuri stated, “We expect the first round of payments to start in February, likely continuing until March 4.”

Security and Fraud Warnings

Creditors have reported numerous phishing emails and requests claiming that payments have started. FTX emphasized the importance of being cautious with such communications from unauthorized sources.

Impact on the Crypto Market

The payments from FTX are expected to invigorate the cryptocurrency market. Market participants believe that creditors re-investing their payouts could contribute to the rise of Bitcoin $104,180 and altcoins. These developments are anticipated to gain momentum under pro-crypto policies from the Trump administration.

The FTX debtor highlighted some inaccuracies regarding Backpack’s claims about acquiring FTX EU. The company stated that 100% of FTX EU’s share capital still belongs to FTX Europe AG, and that the U.S. Bankruptcy Court has not approved any transfers.

Current Figures and Expectations

The upcoming payments aim to stabilize the cryptocurrency market and boost investor confidence. FTX’s initiative towards its creditors is expected to create a positive atmosphere in the sector.

Large-scale payments to creditors from FTX are likely to have a positive impact on the cryptocurrency market. As creditors receive their payments and reinvest in crypto assets, the market may see renewed vigor. However, it is crucial to remain vigilant regarding security measures and fake communications.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Gemini Conquers Europe with Strategic Derivative Offerings

U.S. Crypto Giants Acquire Major Companies in Bold Strategy

Bybit Strengthens Bitcoin Liquidity After Massive Security Breach

Binance Takes Swift Action to Recover $6.1 Million After Cyber Heist

Kraken Launches Derivatives Exclusively for UK Professionals

Fatih Uçar 12 January, 2025 - 10:15 pm 12 January, 2025 - 10:15 pm
Share This Article
Facebook Twitter
Share
Previous Article Scott Bessent Prepares to Exit Bitcoin Investments as New Treasury Secretary Nominee
Next Article Tom Lee Reveals Why Bitcoin’s Future Looks Bright
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Brazil Embraces Bitcoin: Belo Horizonte Leads the Digital Finance Charge
Bitcoin News
Gemini Conquers Europe with Strategic Derivative Offerings
Cryptocurrency Exchanges
Trump Cuts Ties with Lobby Firm Over Digital Asset Controversy
Cryptocurrency News
Lido Finance Empowers stETH Holders with New Governance Proposal
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?