🚨 FTX About to REPAY $1,900,000,000! What this means:

FTX is set to begin its next round of payouts on September 30, with a new distribution of $1.9 billion to creditors. This marks the third round of repayments, following a $1.2 billion distribution in February and a $5 billion distribution in May. The new repayment was made possible after the Bankruptcy Court authorized #FTX to reduce the disputed claims reserve, freeing up cash for allowed claims.

According to FTX creditor Sunil Kavuri, this upcoming distribution will likely exclude creditors in jurisdictions like China, as their claims have not yet been approved. The motion on restricted jurisdictions is being rewritten, and the court has directed the FTX estate to provide a more detailed and workable framework for creditors to reclassify their jurisdictions from restricted to non-restricted. The motion must also not seize creditors' funds.

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