The bankruptcy estate of collapsed crypto exchange FTX has confirmed that its next round of creditor payments will take place on March 31. Creditors on record as of February 14 will be eligible to receive funds.
Additionally, FTX stated that it has revised a plan to lower contested claims, which, if approved by the court, might free up more funds for immediate payouts. Simultaneously, the estate is pursuing legal action to reclaim assets that it claims were transferred incorrectly prior to the collapse of the exchange.
Genesis Digital Assets, which is battling a lawsuit seeking almost $1 billion, is one of the largest disputes. FTX’s cleaning is now as much about legal recovery as it is about paying creditors, as seen by the payout progress and ongoing lawsuits.
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