BitGo and Kraken to start FTX user repayments next monthThe FTX bankruptcy estate updated its timeline for creditor and customer reimbursements, with initial payouts to take effect on January 3, 2025. Crypto firms BitGo and Kraken will oversee fund distribution, while other customer groups awaiting repayment will be addressed in subsequent announcements. Separately, the FTX bankruptcy estate launched a series of lawsuits targeting exchanges and individuals linked to the collapse. Additionally, Binance and its founder Changpeng Zhao are facing a $1.8 billion lawsuit from the FTX estate, alleging that Binance received $1.76 billion in fraudulent transfers before FTX’s collapse in 2022. Related: FTX to Begin $900 Million Creditor Distribution on July 31Meanwhile, plans for an FTX 2.0 reboot were discussed but ultimately abandoned, as no investors were willing to commit capital to restart the platform.