FTX to Disburse $1.6 Billion to Creditors Starting September 30
- FTX’s bankruptcy estate will release $1.6 billion to creditors on September 30.
- U.S. customer claims will receive a payout of 40%, totaling a recovery of 95% so far.
- “Dotcom” customers will see an additional payout of 6%, raising their cumulative recovery to 78%.
- General unsecured and digital asset loan claims are set for a payout of 24%, increasing total recoveries to 85%.
- Convenience claims will be paid at a rate of 120%, exceeding the original amounts owed.
- This distribution follows previous payouts that have returned over $6 billion to creditors since FTX’s collapse in November.
The upcoming distribution is part of the ongoing efforts by the FTX Recovery Trust to return assets to users affected by the exchange’s failure, which significantly impacted the crypto market.
With this third round, U.S. customers will have recovered nearly all their funds, receiving a total of $7.6 billion through various distributions.(Source)
