FTX Recovery Trust will distribute about $2.2 billion to creditors on March 31 in its fourth payout under the exchange’s Chapter 11 plan, with funds arriving via BitGo, Kraken or Payoneer.
The latest distribution lifts recovery rates so that many customer claim classes, including U.S. customers in Class 5B and Classes 6A and 6B, reach 100 percent, while Class 7 is set to receive a cumulative 120%.
The estate has set April 30 as the record date and May 29 as the payment date for its first distributions to preferred equity holders, who must complete ownership, KYC and tax documentation to qualify.
Sam Bankman-Fried, the founder and CEO of the exchange, is serving a 25-year sentence after being found guilty of seven counts of fraud and conspiracy.
You need to login in order to Like
Leave a comment