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Class 5 claimants, including Alameda Research partners, trading vendors, and lenders will recover 54% to 72% of validated claims.

FTX will repay smaller, unsecured creditors approximately 61%, while it will settle intercompany claims from subsidiaries in full, with an added 20%.

In fact, the FTX Recovery Trust has already pushed over 90% of eligible claims into the distribution pipeline, and BitGo and Kraken will transfer funds within one to three business days after the 30th of May.

Remarking on the same, John J. Ray III, Plan Administrator of the FTX Recovery Trust, said,

 “These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.”

Will the crypto market turn bearish once again?

However, while previous FTX’s distribution had triggered a prolonged crypto winter, casting doubts on market stability, the current scenario tells a more nuanced story.

Despite ongoing concerns, such as Solana [SOL]‘s recent price dip from $224 to $140 driven by heavy sell-offs, reduced activity, and looming token unlocks, the broader market remains resilient.

The global crypto market cap has reached $3.44 trillion, reflecting a modest 1.1% uptick in the last 24 hours, as per CoinGecko.

Bitcoin [BTC] has surged to $103,655 with a 1.7% daily gain, while Solana traded at $171.14 despite recent turbulence.

These indicators suggest that while caution is warranted, the market isn’t necessarily entering a full bearish phase just yet.