FTX, the cryptocurrency exchange that collapsed in November 2022, is finally moving forward with the next step in its Chapter 11 reorganization plan.

On May 30, 2025, the exchange is set to launch its second wave of creditor repayments, with over $5 billion ready for distribution.

🗓 Who’s Eligible and How Will It Work?

The payout will cover claims classified under “Convenience” and “Non-Convenience” categories, provided they have met all preliminary distribution requirements. Eligible creditors will receive their funds through BitGo or Kraken, within 1 to 3 business days following the May 30 launch.

To receive payment, creditors must:

🔹 Complete KYC verification,

🔹 Submit the required tax forms,

🔹 Choose their preferred distribution partner via the FTX customer portal.

📊 How Much Will Be Paid Out?

Payout amounts vary based on claim type. For example:

🔹 Class 5A (FTX.com customers) may receive up to 72% of their claim,

🔹 Other classes will receive amounts according to a specific repayment schedule.

FTX currently holds around $11.4 billion in cash, and total recovered assets are estimated between $14.7 billion and $16.5 billion.

Creditors who opt for payment via one of the designated partners irrevocably waive their right to receive direct cash payouts from FTX. In cases of transferred claims, payments will only be made to the recognized holder listed in the official claims registry.

🗣 FTX Administrator: A Major Milestone

John J. Ray III, head of the FTX Recovery Trust, called the upcoming distribution a critical milestone in the restructuring process.

“Today’s announcement reflects the extraordinary success of our recovery and coordination efforts. We remain committed to recovering more assets and addressing unresolved claims to ensure maximum returns for creditors,” Ray said.

📈 Will This Move the Crypto Market?

The return of $5 billion to creditors is drawing widespread attention — not just within the FTX community. Social media is buzzing with speculation. Many believe that some of the money will flow back into crypto, especially into Bitcoin and popular altcoins like Ripple.

Analysts note that similar payouts in the past have sparked fresh market activity. And if the timing aligns with the current bullish sentiment — such as today, with Bitcoin above $100,000 — this distribution could serve as a major catalyst for further growth.

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