#FTXRefunds
As of May 31, 2025, FTX has initiated its second major round of creditor repayments, distributing over $5 billion to eligible claimants. This follows the initial $7 billion disbursed in February, bringing total repayments to approximately $12 billion.
๐ธ Key Details of the Second Repayment Phase
Distribution Amount: Over $5 billion in cash and stablecoins.
Start Date: May 30, 2025.
Payment Platforms: Funds are being distributed via BitGo and Kraken, with recipients expected to receive payments within 1โ3 business days.
Recovery Rates:
Smaller, unsecured creditors are receiving approximately 61% of their approved claims.
Certain intercompany claims are being repaid at up to 120% of their original value.
๐ Ongoing Recovery Efforts
The FTX Recovery Trust, under the leadership of John J. Ray III, continues to manage the complex bankruptcy proceedings. Efforts are ongoing to recover additional assets through legal actions and asset sales, aiming to maximize creditor recoveries.
๐ Implications for Creditors
While these repayments mark significant progress, it's important to note that the recovery amounts are based on the U.S. dollar value of assets at the time of FTX's collapse in November 2022. This means creditors are not compensated for any subsequent appreciation in cryptocurrency values since that time.
For the latest updates and to access official documents, creditors can visit the FTX case website: cases.ra.kroll.com/FTX.
