Yigit Taha OZTURK 
Once one of the largest cryptocurrency exchanges in the world, FTX is now preparing to repay its investors after its 2022 collapse. FTX creditors, who have been affected throughout the bankruptcy process, will start receiving their first repayments as of February 18, 2025.
Emails sent to relevant users indicate that the first phase of the repayment process will cover FTX Bahamas creditors under the “convenience class”, which includes claims under $50,000.
FTX Collapse and Repayment Process
FTX filed for bankruptcy in November 2022 following a liquidity crisis, which led to CEO Sam Bankman-Fried misappropriating customer funds to cover multi-billion-dollar losses at Alameda Research, its sister company. This collapse caused significant turmoil in the crypto market, resulting in massive losses for investors.
Now, as part of the bankruptcy process, affected customers will receive approximately 119% of the cash value of their deposits from two years ago.
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However, the repayment plan is based on crypto prices from November 2022. As a result, customers who held Bitcoin (BTC) and Ethereum (ETH) at the time will receive compensation reflecting values of around $20,000 and $1,200, respectively.
Solana Investors Among the Biggest Losers
The FTX collapse has had a particularly harsh impact on Solana (SOL) investors. When FTX filed for bankruptcy, Solana was trading at just $17. Today, Solana is trading above $200, meaning that many investors have missed out on significant gains.
This has caused frustration among customers who lost their crypto holdings, as the FTX repayment plan is based on past prices rather than current market values.
How Will FTX Repayments Affect the Crypto Market?
FTX’s repayment process could have a major impact on the cryptocurrency market. Since most payments will be made in cash, some investors may reinvest these funds back into crypto. This could lead to positive momentum for major cryptocurrencies like Bitcoin, Ethereum, and Solana.
However, if large investors decide to cash out instead of reinvesting, it could create selling pressure in the market.
In the coming days, how FTX creditors choose to use these funds will be one of the key factors shaping the market’s direction!
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