US EditionFTX Commences Second Distribution of More than $5 Billion to Convenience and Non-Convenience Classes
- FTX commenced the second distribution of more than $5 billion to holders of allowed claims on May 30, 2025, from Wilmington, Delaware.
- This distribution follows the Chapter 11 Plan of Reorganization and requires claimants to have completed pre-distribution steps such as KYC verification and tax form submission.
- Distributions will be facilitated by BitGo and Kraken and will provide varying percentages to claim classes, including 72% for Dotcom customers and 120% for Convenience Claims.
- Plan Administrator John J. Ray III highlighted that the latest update reflects ongoing advancements in reimbursing FTX’s customers and creditors, emphasizing sustained efforts to recover additional assets.
- Funds are expected within 1 to 3 business days and arriving in stablecoins to provide immediate liquidity, with further payment dates to be announced later.
51 Articles
51 Articles
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On Friday, the estate managing the collapsed crypto exchange FTX announced that its recovery trust had begun disbursing over $5 billion tied to both convenience and non-convenience class claims. As distributions roll out over the following three days, Coinbase Institutional observed in its weekly briefing that this injection of capital could invigorate liquidity across crypto […]
FTX Bankruptcy Estate distributes $5 billion
The FTX Recovery Trust has initiated a second round of payments to its creditors. On May 30, the Trust started a $5 billion payout to eligible creditors in the Convenience and Non-Convenience Classes who have completed the pre-distribution requirements. According to a May 28 announcement, the creditors’ distribution will include Dotcom Customer Entitlement Claims, which are receiving a 72% distribution; US Customer Entitlement Claims, which are …
FTX Begins Second Phase of $5 Billion Fund Distribution to Creditors
FTX, the cryptocurrency exchange, has now started round two of sending back funds to its users. The exchange has returned to the convenience class creditors and is considering the next steps for those in the non-convenience class. That means if you traded on the exchange and didn’t send over a passport picture, you might still get some crypto back. To the extent that FTX can return some of these assets, that’s a positive development, said James …
Bankrupt Crypto Exchange FTX Officially Kicks Off Second Round of Creditor Repayments With $5,400,000,000 Distribution - The Daily Hodl
The bankrupt crypto exchange FTX has begun distributing more than $5.4 billion to creditors. The payouts represent the exchange’s second round of distributions after smaller creditors categorized in FTX’s “Convenience Class” started receiving repayments in February. Creditors in this round include “convenience class” members and larger claims. They will all receive funds via BitGo or Kraken within one to three business days from Friday, per a ne…
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