{"id":831563,"date":"2025-03-04T14:12:31","date_gmt":"2025-03-04T20:12:31","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/04\/ftx-wallet-moves-bitcoin-ahead-of-creditor-repayments\/"},"modified":"2025-03-04T14:12:31","modified_gmt":"2025-03-04T20:12:31","slug":"ftx-wallet-moves-bitcoin-ahead-of-creditor-repayments","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/04\/ftx-wallet-moves-bitcoin-ahead-of-creditor-repayments\/","title":{"rendered":"FTX wallet moves Bitcoin ahead of creditor repayments"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div data-id=\"163756\" data-url=\"https:\/\/cryptobriefing.com\/ftx-creditor-repayments-bitcoin-movement\/\">\n<section>\n<div>\n<p><a href=\"https:\/\/cryptobriefing.com\/markets\/\" rel=\"tag\"><br \/>\n                    Markets                <\/a>\n                    <\/p>\n<\/div>\n<p><span><span><a href=\"https:\/\/cryptobriefing.com\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/cryptobriefing.com\/markets\/\">Markets<\/a><\/span> \u00bb <span aria-current=\"page\">FTX wallet moves Bitcoin ahead of creditor repayments<\/span><\/span>        <\/p>\n<div>\n<div>\n<p><span>by<\/span><\/p>\n<div>\n<p><a data-author_id=\"29816\" href=\"https:\/\/cryptobriefing.com\/team\/vivian-nguyen\/\" rel=\"author\">Vivian Nguyen<\/a><\/p>\n<\/div><\/div>\n<p><time datetime=\"2025-02-17T16:02:35+00:00\"><br \/>\n                        Feb. 17, 2025                    <\/time>\n                            <\/p>\n<\/p><\/div>\n<\/section>\n<section>\n<h2>Bitcoins &#8220;Convenience class&#8221; creditors\u2014users with claims under $50,000\u2014will be the first to be repaid.<\/h2>\n<\/section>\n<section>\n            <picture><source media=\"(min-width: 850px)\" ><img decoding=\"async\" fetchpriority=\"high\" src=\"http:\/\/cryptobriefing.com\/1bf5dcbd-097c-4c69-908c-dc5402ee9775.jpg\" alt=\"bitcoins FTX wallet moves Bitcoin ahead of creditor repayments\" title=\"bitcoins http:\/\/cryptobriefing.com\/1bf5dcbd-097c-4c69-908c-dc5402ee9775.jpg\">\n            <\/picture>\n        <\/section>\n<section>\n<section>\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>FTX has begun testing Bitcoin transactions ahead of creditor repayments scheduled for tomorrow.<\/li>\n<li>Initial creditor repayments will prioritize customers with claims under $50,000.<\/li>\n<\/ul>\n<\/section>\n<section>\n<p>Share this article<\/p>\n<\/section>\n<p>        <?xml encoding=\"UTF-8\"><\/p>\n<p>A wallet associated with the now-bankrupt crypto exchange FTX moved 0.3 Bitcoin, worth around $29,000, in three separate transactions early Monday, according to Arkham Intelligence <a target=\"_blank\" href=\"https:\/\/intel.arkm.com\/explorer\/entity\/ftx\" rel=\"noopener nofollow noreferrer\">data<\/a>. The move comes as the FTX estate is set to begin repaying its first creditors on Feb. 18.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2025\/02\/17105429\/FTX-moves-BTC.png\"><noscript><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2025\/02\/17105429\/FTX-moves-BTC.png\"><\/noscript><figcaption><\/figcaption><\/figure>\n<p>The motive behind these small Bitcoin transfers is unclear. Ethem Ozturk, co-founder of Muhabbit who first spotted them, <a target=\"_blank\" href=\"https:\/\/x.com\/Spectura\/status\/1891424381051797870\" rel=\"noopener nofollow noreferrer\">speculates<\/a> that they may be test transactions to make sure things go smoothly when the bigger payouts start.<\/p>\n<p>According to the latest update from Sunil Kavuri, who represents the largest group of FTX creditors, FTX will initiate distributions to \u201cconvenience class\u201d creditors, those with claims under $50,000.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">FTX Repayments: 18 Feb 2025 <\/p>\n<p>Funds available from 10am ET<br \/>FTX Claims < $50k<\/p>\n<p>FTX Creditors in the Bahamas process have email confirmation that repayments will start on 18 Feb 2025<\/p>\n<p>9% interest per annum from 11 Nov 2022 <a href=\"https:\/\/t.co\/FrmDN4qiK7\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">pic.twitter.com\/FrmDN4qiK7<\/a><\/p>\n<p>\u2014 Sunil (FTX Creditor Champion) (@sunil_trades) <a href=\"https:\/\/twitter.com\/sunil_trades\/status\/1886796657259376733?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">February 4, 2025<\/a><\/p>\n<\/blockquote>\n<p><script type=\"rocketlazyloadscript\" async data-rocket-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Eligible creditors can expect to receive 100% of their adjudicated claim value, plus 9% annual interest calculated from November 2022, the month FTX declared bankruptcy.<\/p>\n<p>Repayments will be based on crypto values converted to US dollars at the time of FTX\u2019s November 2022 bankruptcy. While FTX has recovered more than $16 billion in assets, customers may face losses due to the recent appreciation of Bitcoin and Ethereum.<\/p>\n<p><html><body><\/p>\n<div class=\"ad-banner mrec-in-article\"><\/div>\n<p><\/body><\/html><\/p>\n<p>The exchange projects that approximately 98% of users will receive 119% of their claim value.<\/p>\n<p>FTX\u2019s reorganization plan officially took effect on Jan. 3, and repayments will soon begin. The first group of creditors is expected to receive their reimbursements by early March.<\/p>\n<p>FTX will announce its plans for how the rest of its creditors will be repaid in the future.<\/p>\n<\/p>\n<section class=\"article-share\">\n<p>Share this article<\/p>\n<div class=\"social-icons\">\n          <button class=\"social-icon share\" data-href=\"https:\/\/x.com\/intent\/tweet?text=FTX+wallet+moves+Bitcoin+ahead+of+creditor+repayments&#038;url=https%3A%2F%2Fcryptobriefing.com%2Fftx-creditor-repayments-bitcoin-movement%2F&#038;via=crypto_briefing\" aria-label=\"Share on x\"><br \/>\n        <?xml version=\"1.0\" encoding=\"UTF-8\"?><br \/>\n                <svg width=\"40px\" height=\"40px\" viewBox=\"0 0 40 40\" version=\"1.1\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\n                <g id=\"surface1\">\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 17.867188 0.148438 C 10.839844 0.878906 4.558594 5.507812 1.707031 12.054688 C -0.132812 16.28125 -0.441406 21.148438 0.867188 25.625 C 2.480469 31.214844 6.652344 35.933594 12.054688 38.292969 C 16.28125 40.132812 21.148438 40.4375 25.628906 39.132812 C 32.332031 37.199219 37.613281 31.695312 39.347656 24.851562 C 42.054688 14.132812 35.414062 3.171875 24.667969 0.613281 C 22.304688 0.0546875 20.226562 -0.09375 17.867188 0.148438 Z M 18.132812 12.535156 C 19.839844 14.800781 21.28125 16.667969 21.332031 16.667969 C 21.386719 16.667969 23.160156 14.800781 25.253906 12.535156 L 29.078125 8.398438 L 31.253906 8.398438 L 30.785156 8.894531 C 30.519531 9.171875 28.785156 11.054688 26.933594 13.066406 C 25.078125 15.078125 23.265625 17.039062 22.90625 17.398438 L 22.265625 18.078125 L 27.265625 24.734375 C 30.011719 28.398438 32.265625 31.441406 32.265625 31.492188 C 32.265625 31.558594 30.628906 31.601562 28.640625 31.601562 L 25 31.585938 L 21.613281 27.054688 C 19.28125 23.921875 18.1875 22.574219 18.078125 22.652344 C 18 22.71875 16.105469 24.761719 13.867188 27.1875 L 9.800781 31.601562 L 8.773438 31.601562 C 8.199219 31.601562 7.734375 31.574219 7.734375 31.535156 C 7.734375 31.492188 9.851562 29.171875 12.441406 26.386719 C 15.011719 23.601562 17.148438 21.265625 17.171875 21.226562 C 17.1875 21.171875 15.066406 18.28125 12.464844 14.800781 C 9.867188 11.332031 7.734375 8.464844 7.734375 8.441406 C 7.734375 8.414062 9.371094 8.398438 11.386719 8.398438 L 15.039062 8.398438 Z M 18.132812 12.535156 \" \/>\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 11.027344 10.1875 C 11.082031 10.28125 14.441406 14.785156 18.464844 20.171875 L 25.800781 29.988281 L 27.441406 30 C 28.453125 30 29.066406 29.945312 29.039062 29.867188 C 29.027344 29.800781 25.679688 25.292969 21.628906 19.867188 L 14.238281 10 L 12.585938 10 C 11.214844 10 10.933594 10.027344 11.027344 10.1875 Z M 11.027344 10.1875 \" \/>\n                <\/g>\n                <\/svg>      <\/p>\n<\/section>\n<\/div>\n<p> Vivian Nguyen <a href=\"https:\/\/cryptobriefing.com\/ftx-creditor-repayments-bitcoin-movement\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Markets Home \u00bb Markets \u00bb FTX wallet moves Bitcoin ahead of creditor repayments by Vivian Nguyen Feb. 17, 2025 &#8220;Convenience class&#8221; creditors\u2014users with claims under $50,000\u2014will be the first to be repaid. Key Takeaways FTX has begun testing Bitcoin transactions ahead of creditor repayments scheduled for tomorrow. Initial creditor repayments will prioritize customers with claims<\/p>\n","protected":false},"author":1,"featured_media":831564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2150,25349],"tags":[11476],"class_list":{"0":"post-831563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-moves","8":"category-wallet","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/831563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=831563"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/831563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/831564"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=831563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=831563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=831563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}