FTX will begin repaying $5B of creditors on May 30 with key classes to receive up to 120% under the Chapter 11 plan through Bitgo and Kraken.
FTX Trading Limited, together with FTX Recovery Trust, has confirmed that it will commence its second round of distribution to eligible creditors on 30 May 2025.
The distribution will be made under the company's Chapter 11 plan of reorganization and will include payments totaling more than $5 billion.
FTX Plans $5 Billion Repayment to Creditors
According to a press release issued by FTX Trading Limited and FTX Recovery Trust on May 15, the upcoming distributions will be made to holders of permitted claims who have completed all pre-distribution steps.
These steps include onboarding an approved distribution service provider, either Bitgo or Kraken.
Funds will be remitted on May 30, 2025. Borrowers should expect to receive their payments within 1 to 3 business days after this date.
The payments are part of ongoing efforts to settle creditors' claims after the defunct crypto exchange's bankruptcy and liquidation in 2022.
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