FTX Eurozone Creditors Set for Repayments – But Will They Match Market Values?

FTX creditors in the Eurozone will receive repayments in euros based on 2022 closure prices, plus processing fees of up to 30%.

An email has been sent to EU creditors, and initial payments may start as soon as next Monday, pending approval from the Cyprus Securities and Exchange Commission.

Users can check their balances through a dedicated portal, but repayments will be subject to market currency risk and pending court fees.

Nearly two years after FTX’s collapse, some crypto assets will be compensated at significantly lower rates than current market prices, such as Bitcoin at $16,486.31 and Ethereum at $1,241.45. The bankruptcy has also led to an increase in phishing scams targeting EU holders.

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Despite the challenges, FTX has managed to liquidate assets to maintain funds for repayments, while the FTT token has seen increased trading activity.

Total payouts could approach $12 billion, but bankruptcy fees may exceed this figure, complicating recovery for creditors.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.