FTX Starts $900M Creditor Distribution as Repayments Near $10B

TLDR

• FTX started its fifth creditor distribution of about $900M on July 31.
• Eligible creditors should receive payments within one to three business days.
• Payments are being processed through BitGo, Kraken, and Payoneer.
• International and U.S. customer claims are set to reach 105% recovery.
• FTX also reached a nearly $165M settlement tied to Junho Bang’s estate.

FTX started its fifth creditor distribution on July 31, sending about $900 million to eligible claimants as the failed exchange continues its bankruptcy repayment process.

FTX Begins Fifth Creditor Payout

The latest distribution applies to allowed Convenience and Non-Convenience claims under FTX’s Chapter 11 plan. Eligible creditors had to meet the June 16 record date and complete all required pre-distribution steps.

Payments are being processed through BitGo, Kraken, and Payoneer. FTX said eligible claimants should receive funds within one to three business days from July 31.

The new payout lifts total repayments since the FTX wind-down began to nearly $10 billion. Many creditors are now set to recover more than the value of their claims based on the bankruptcy filing date.

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