FTX User KYC Deadline Looms: Nearly 400,000 Risk Losing $2.5 Billion

The failure of over 392,000 FTX creditors to complete or initiate KYC verification has resulted in the potential loss of nearly $2.5 billion in repayments according to court filings. This deadline impacts claims under $50,000, which are estimated to total around $655 million in disallowed repayments, and claims above $50,000, totaling up to $1.9 billion in unclaimed funds. The next round of FTX creditor payments is set for May 30th, 2025, with over $11 billion expected to be repaid to creditors with claims exceeding $50,000.