FTX to Begin $11.4B Creditor Payouts in May After Years-Long Bankruptcy Battle

FTX to Begin $11.4B Creditor Payouts in May After Years-Long Bankruptcy Battle

FTX, the collapsed cryptocurrency exchange once helmed by Sam Bankman-Fried, plans to begin paying its main creditors at the end of May, Bloomberg reported based on court proceedings in Delaware this week.The company has gathered $11.4 billion in cash to distribute to thousands of parties affected by its 2022 bankruptcy, with the first payments to major creditors set for May 30.These include institutional investors and firms that held crypto on …

FTX to Start Paying Main Creditors’ Bankruptcy Claims in May

Former cryptocurrency firm FTX will start paying its main creditors at the end of May using a cash hoard of $11.4 billion the company has collected since its shut down.

After twelve years, the creditors of the insolvent Salzburg construction company Alpine will receive a payment again. In June 2025, a sum of 40 million euros is expected. Altogether, almost 250 million euros have been distributed. Twelve years after the spectacular insolvency of the Salzburg construction company Alpine, the creditors of the company will receive a payment again. According to the creditor protection association Creditreform, 40 mi…

FTX plans to distribute $11.4 billion to its creditors from May 30, with a process already under way for small claims of less than $50,000. Many creditors regret to be repaid in dollars rather than cryptocurrency, as the rise in the market since bankruptcy reinforces their sense of loss. The procedure has been slowed down by a massive influx of doubtful claims and by the accumulation of legal interest of 9% per year, increasing the pressure on a…

FTX to Begin $11.4 Billion Creditor Repayments on May 30

TLDR FTX will begin repaying major creditors $11.4 billion starting May 30, 2025 Claims are valued at November 2022 prices, when Bitcoin was worth 80% less than today Smaller creditors under $50,000 have already begun receiving payments The company faces billions in disputed or fraudulent claims that may delay full distribution Despite controversy over valuation dates, creditors are expected to receive 118-119% of their claims in cash Nearly tw…

FTX Prepares To Repay Major Creditors By End Of May - FinanceFeeds

FTX, the collapsed cryptocurrency exchange that filed for bankruptcy in November 2022, is preparing to begin repaying its major creditors by the end of May 2025. This long-awaited move comes as the exchange has amassed approximately $11.4 billion in cash reserves from asset liquidations, settlements, and fund recoveries. Major Creditors to Receive Payments According to bankruptcy court filings and statements from FTX’s legal representatives, the…