BitGo credits bankrupt FTX creditors payouts but withdrawals delayed till May 30

BitGo credits bankrupt FTX creditors payouts but withdrawals delayed till May 30

Crypto custodian BitGo has started crediting FTX customers in the second phase of repayments by the bankrupt company. FTX creditor champion Sunil Kavuri disclosed this on X, adding that claims below $50,000 get 120% of their value, with the 20% being interest. According to Kavuri, the repayments...

FTX Creditors Face Phishing Threats As $5B Repayment Phase Kicks Off » News.ng

On May 27, digital asset custodian BitGo began distributing the second phase of repayments to FTX creditors, as part of the recovery process following the platform’s collapse. Alongside Kraken, BitGo is facilitating over $5 billion in additional repayments, adding to the $1.2 billion distributed in February. According to the FTX Recovery Trust, while eligible users can now view the credited funds in their accounts, they won’t be able to trade or…