FTX Announces Effective Date and Record Date of January 3, 2025 for Its Chapter 11 Plan of Reorganization

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_Initial Distribution to Occur within 60 Days of Effective Date_

_Enters into Agreements with BitGo and Kraken to Distribute Payments to Customers and Creditors_

WILMINGTON, Del., Dec. 16, 2024 /PRNewswire/ -- FTX Trading Ltd. (d.b.a. FTX.com) ("FTX") and its affiliated debtors (the "FTX Debtors") today announced its Court-approved Chapter 11 Plan of Reorganization (the "Plan") will become effective on January 3, 2025, which has also been set as the initial distribution record date for holders of allowed claims in the Plan's Convenience Classes (the "Initial Distribution"). The Initial Distribution is expected to occur within 60 days of the Effective Date, with participation subject to know-your-customer and other distribution requirements. The Initial Distribution is limited to the Plan's Convenience Classes. Separate record and payment dates for other classes of claims will be announced in due course.

John J. Ray III, Chief Executive Officer of the FTX Debtors, said: "For the past two years, our team of professionals have meticulously and efficiently worked to recover billions of dollars to reach this point. The Plan becoming effective in January 2025 and the start of distributions are reflections of the outstanding success of the recovery efforts. We are well positioned to begin executing the distribution of recoveries back to all customers and creditors, and encourage customers to complete the necessary steps to begin receiving distributions in a timely manner."

FTX also today announced it has entered into agreements with two companies to assist in distributing recoveries to both retail and institutional customers and other creditors in supported jurisdictions and in accordance with the Plan:

- BitGo, a full-service globally regulated custodian enabling institutional-grade trading, settlement services, and more for retail and institutional clients since 2013; and
- Kraken, founded in 2011, is a leading US-based cryptocurrency exchange that enables spot trading, regulated derivatives, and more available in up to 190 countries.

If additional distribution service providers are onboarded, announcements will be made on the FTX Debtors' Customer Portal and the FTX Debtors' official X.com account ( [https://x.com/FTX\_Official](https://x.com/FTX_Official)).

**To be eligible to receive a distribution on the Initial Distribution date, customers and other creditors must complete the following prior to the distribution record date:**

- Login to the FTX Debtors' Customer Portal ( [https://claims.ftx.com](https://c212.net/c/link/?t=0&l=en&o=4325813-1&h=2335934049&u=https%3A%2F%2Fclaims.ftx.com%2F&a=https%3A%2F%2Fclaims.ftx.com)) (applicable to customers).
- Complete required Know Your Customer (

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