FTX restructuring plan has taken effect

PANews reported on January 4 that according to Cointelegraph, the FTX restructuring plan will take effect on January 3 and will allow users to start receiving repayments. Customers need to file a claim through the official website to be eligible for refunds, and FTX said the first group of customers should receive their refunds within 60 days. Under the FTX program, users in the first "Convenience Classes" will be reimbursed first, including those with claims of $50,000 and below. Registration and payment dates for other categories of claims will be announced later. The plan, approved in October, states that 98% of FTX users can expect to receive repayment of 119% of the declared value of their funds. FTX Debtors advises that users requesting claims should be wary of phishing emails that appear to be sent from the exchange.