FTX’s creditor repayment process begins on February 18, 2025, with $6.5 billion to $7 billion allocated for the first phase, targeting creditors with claims under $50,000. The second phase is set for Q2 2025, focusing on larger claims and offering compensation for those who meet KYC, tax, and distributor requirements. Repayments will be in cash, not cryptocurrency, with interest for long-held investments. FTX assures full repayment, though shareholders will not receive compensation.