FTX Repayment Plan Fact Check: Addressing Misinformation

• FTX’s $16B repayments start March 2025; disputed claims may delay payouts by up to 3 years.
• AI agents spread misinformation, causing confusion over FTX repayment timeline.
• FTT token surged 5% following inaccurate AI reports on repayment dates.

An FTX creditor has called out a popular AI agent for spreading false information about FTX’s upcoming claims distribution. At the center of this controversy is FTX’s highly anticipated creditor repayment plan, which totals over $16 billion and will reimburse thousands of creditors who lost funds in the exchange’s collapse in November 2022.

FTX’s $16 Billion Repayment Plan

The failed crypto exchange received approval from a U.S. court in October 2024 for its repayment plan. This plan allows FTX to distribute $16.5 billion to its creditors over a 60-day period starting March 2025. The defunct exchange is expected to conclude its Chapter 11 Plan of Reorganization by January of next year.

However, over the past 24 hours several crypto influencers and news bots, including aixbt, reported that FTX will begin repaying its victims as early as January 3rd, 2025. This was paired with similar reporting from several other high-profile influencers, including Ash Crypto. 

FTX Creditor Fact Checks Repayment News

FTX creditor Sunil took to X to clarify the correct repayment timeline and figures. According to Sunil, FTX’s actual cash holdings are closer to $13-$14 billion. Of this amount, an estimated $5-$7 billion will go towards venture capital portfolios and lawsuit costs (disputed claims).

Sunil explained that disputed claims will not be distributed internally, and recovery could take up to 3 years, depending on the legal proceedings. The remaining funds, approximately $7 billion, will be distributed starting March 25, 2025.

Credibility of AI Agents in Crypto

This incident has raised concerns about the credibility of AI agents in the crypto world. These agents, like aixbt, provide news and information to the crypto community on platforms like X. However, their potential to spread misinformation poses a risk, especially given the impact such news can have on token prices.

Source: CoinMarketCap

For instance, within minutes of aixbt’s FTX post, the price of the FTT token jumped more than 5%. This token also registered a 100% increase in trading volume following the news. At the time of writing, FTT was trading at $3.45.