Golden Finance reported that FTX and its associated debtors announced today that the bankruptcy reorganization plan approved by the court will take effect on January 3, 2025. This date is also set as the initial distribution record date for holders of approved creditor's rights in the convenience category in the plan ( (hereinafter referred to as "Initial Allocation"). The initial distribution is expected to be made within 60 days of the Effective Date, and participation in the distribution is subject to Know Your Customer and other distribution requirements. First allocation is limited to the convenience category of the plan. Separate recording and payment dates for other categories of claims will be announced in due course. To qualify for the first round of allocation, users need to complete the following steps before January 3, 2025: Log in to the FTX Debtor Client Portal; Complete KYC identity verification; Submit necessary tax forms; Complete registration at BitGo or Kraken.