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FTX Refunds: A Historic Payout Begins
The FTX Recovery Trust has launched a monumental $5 billion payout to creditors, marking a significant milestone in the cryptocurrency exchange’s bankruptcy saga. Starting May 30, 2025, eligible creditors in the Convenience and Non-Convenience Classes who completed pre-distribution requirements, including KYC and tax obligations, began receiving funds. This second distribution phase follows an initial $1.2 billion payout in February 2025 for smaller claims under $50,000. The process, facilitated by platforms like BitGo and Kraken, aims to restore funds lost during FTX’s 2022 collapse, offering hope to thousands of affected users.$WCT
