FTX ETH Repayment Plan: Payouts to Start on February 18

The FTX ETH repayment plan is officially set to begin on February 18, 2024, allowing Ethereum (ETH) holders who had funds locked on the exchange to receive compensation. The repayments will be calculated based on ETH’s market value at the time of FTX’s bankruptcy in November 2022, meaning recipients may receive significantly less than its current price.

This initiative is part of FTX’s broader bankruptcy proceedings, which aim to distribute funds to affected users. Thousands of Ethereum holders are expected to be impacted by the repayment process.

Who Is Eligible for the FTX ETH Repayment Plan?

The FTX ETH repayment plan applies to Ethereum holders who had assets on the exchange before its bankruptcy. Court filings indicate that these users will receive payouts based on ETH’s price in November 2022, rather than current market rates.

For example, in November 2022, ETH was trading around $1,200, compared to its current price of over $2,500. As a result, users will not benefit from Ethereum’s price increase over the past year.

How Much Will ETH Holders Receive?

The estimated payout for eligible users under the FTX ETH repayment plan is around $2,500 per account, depending on their holdings at the time of the collapse. However, since these calculations use 2022 market prices, many creditors believe they are being shortchanged.

Alongside Ethereum, FTX is also processing repayments for other assets, but all conversions will be made based on November 2022 valuations. This has led to frustration among creditors, as crypto prices have increased significantly since then.

When Will the FTX ETH Repayments Be Processed?

According to court documents, FTX will start processing ETH repayments on February 18, 2024. The distribution will occur in phases, but the exact timeline for full repayment remains unclear. Users should monitor official FTX announcements to stay updated on payout schedules and required verification steps.

What’s Next for Affected ETH Holders?

With FTX set to begin ETH repayments, users will finally regain access to their locked funds—though at 2022 market prices. While this provides some relief, many creditors are frustrated that repayments do not reflect ETH’s price increase since FTX’s collapse.

For now, eligible users should stay informed through official FTX communications and ensure their account details are up to date. As repayments proceed, further updates on Ethereum reimbursements and other asset distributions are expected.