FTX Bankruptcy: $5 Billion Repayments Begin

FTX to Distribute Over $5 Billion to Creditors Starting May 30

• FTX creditors will receive more than $5 billion from the bankruptcy estate beginning May 30.
• Creditors will receive between 54% and 120% of their claims in this distribution phase.
• The estate has processed claims distributions for over 90% of creditors.
• Four groups of creditors will receive funds, with varying percentages based on claim types.
• BitGo and Kraken will facilitate fund transfers within one to three business days from May 30.

The FTX Recovery Trust is set to distribute over $5 billion to creditors starting May 30, marking the second phase of the bankruptcy recovery plan. This phase includes payouts ranging from 54% to 120% of claims, with BitGo and Kraken handling fund transfers.