Home FTX To Distribute $900M To Creditors In Fifth Payment Round

FTX To Distribute $900M To Creditors In Fifth Payment Round

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FTX To Distribute $900M To Creditors In Fifth Payment Round
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The FTX Recovery Trust has announced that it will begin distributing approximately $900M to creditors on July 31, marking the fifth round of repayments since the collapsed crypto exchange filed for bankruptcy in 2022.

Eligible claimants in both the convenience and non-convenience classes will receive funds through BitGo, Kraken or Payoneer, with payments expected to arrive within one to three business days after distribution begins.

Under FTX’s recovery plan, convenience claims below $50K will receive 120% reimbursement, while larger claims are expected to receive between 103% and 105%.

The latest payout follows a $2.2B distribution earlier this year, bringing the total amount returned to creditors to nearly $10B. The repayments are part of the ongoing bankruptcy process as the FTX Recovery Trust continues compensating customers affected by the exchange’s collapse.

 

 

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