FTX to Start Creditor Payments Using $11.4 Billion Cash Reserves
- FTX plans to begin paying its main creditors on May 30th.
- The exchange has $11.4 billion in cash reserves for reimbursements.
- Main creditors include individuals and institutions with millions on the platform before its collapse.
- Smaller creditors began receiving distributions in February.
- A US bankruptcy court approved payouts between $14.7 billion and $16.5 billion.
- 98% of creditors are set to receive around 119% of their holdings’ value from November 2022.
FTX is scheduled to start reimbursing major creditors on May 30th using its $11.4 billion cash reserves, with a plan approved by a US bankruptcy court to distribute up to $16.5 billion in payouts.
Source (2.6)https://dailyhodl.com/2025/04/01/ftx-estate-to-begin-paying-major-creditors-with-11400000000-in-cash-reserves-report/?rand=59076
