FTX Trading Ltd., along with the FTX Recovery Trust, has confirmed that it will begin its second round of distributions to eligible creditors on May 30, 2025. The distribution will be carried out under the company’s Chapter 11 Plan of Reorganization and will involve payments totalling more than $5 billion.
FTX $5 Billion Repayment Plan for Creditors
According to a press release issued on May 15, by FTX Trading Ltd. and the FTX Recovery Trust, the upcoming distribution will be made to holders of allowed claims who have completed all pre-distribution steps. These steps include onboarding with an approved distribution service provider, either Bitgo or Kraken.
The funds will be sent out on May 30, 2025. Creditors should expect to receive their payments within 1 to 3 business days after that date.
These payments are part of defunct crypto exchange ongoing efforts to resolve creditor claims following its bankruptcy filing and collapse in 2022.
This Is A Developing News, Please Check Back For More
The post Just In: FTX Announces $5 Billion Repayment Plan for Creditors On May 30 appeared first on CoinGape.
