US EditionFTX Recovery Trust to Distribute More than $5 Billion to Creditors in Second Distribution on May 30, 2025
- FTX, through its Recovery Trust and under its Chapter 11 reorganization plan, will begin distributing more than $5 billion to qualified creditors on May 30, 2025, with payments facilitated by authorized providers BitGo and Kraken.
- This second distribution follows initial February payouts to creditors with claims under $50,000 and targets those holding claims exceeding $50,000 as part of bankruptcy resolution.
- FTX holds about $11.4 billion for repayments, with different claim classes receiving distributions ranging from 54% to 120%, reflecting an unprecedented process given the large creditor base.
- John J. Ray III, FTX CEO, called the distributions an important milestone and praised the recovery team's coordination and ongoing efforts to resolve claims.
- Eligible creditors must complete all necessary pre-distribution requirements before the payout date, with payments scheduled to be disbursed starting May 30, 2025, and typically arriving within a few business days thereafter, in accordance with the Chapter 11 Plan.
38 Articles
38 Articles
FTX to pay $5B to creditors as part of defunct crypto exchange's recovery plan (FTT-USD:Cryptocurrency)
FTX (FTT-USD), the now-defunct crypto exchange founded by convicted felon Sam Bankman-Fried, is returning more than $5B to creditors starting May 30, as part of its broader recovery plan to manage assets for creditor repayments.
CryptoPotato
Crypto News Wire - Latest Crypto News And AnalysisFTX Creditors to Receive Over $5B Starting May 30
The FTX Recovery Trust has announced it will begin disbursing more than $5 billion to creditors from May 30. This payment round marks the second distribution to eligible parties as the firm continues its efforts to reimburse those affected by its collapse. Repayment Efforts In a May 15 release, the company’s bankruptcy estate categorized creditors into five “convenience classes” with specified payout rates. Members of creditors Class 5A will rec…
FTX to Distribute Over $5 Billion to Creditors in Second Payout Round Starting May 30, 2025
Latest News and Updates on blockchain industry by AlexaBlockchain ("Alexa Blockchain"). FTX Recovery Trust will distribute over $5 billion to eligible creditors starting May 30, 2025, as part of the second payout under its bankruptcy reorganization plan. The post FTX to Distribute Over $5 Billion to Creditors in Second Payout Round Starting May 30, 2025 appeared first on AlexaBlockchain.
FTX to Disburse Over $5 Billion in Second Creditor Payout
FTX has confirmed it will initiate its second round of creditor distributions on May 30, 2025, in line with its Chapter 11 Plan of Reorganization. According to a recent press release, the upcoming distribution will exceed $5 billion and be allocated to claimants across several designated creditor classes. FTX Recovery Trust stated that eligible participants must have completed all pre-distribution steps to receive funds through their selected …
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