FTX Set to Distribute $16 Billion: Key Dates and What Creditors Can Expect
20.09.2024 8:30 1 min. read Alexander Zdravkov
FTX is set to begin distributing $16 billion in assets to creditors starting in early Q4 2024.
This follows a major liquidation process and places funds back into circulation.
Despite its collapse, FTX still has around $16 billion in assets, with approximately $12 billion in cash and stablecoins. However, Bitcoin deposits, now worth over $63,000, will be repaid at their value of $16,800 from the time of the crash.
The repayment process will be complex, involving numerous claims and deductions for fees and taxes. Creditor repayments are expected to range from $8 billion to $12 billion, with significant focus on Class 5A and 5B claims.
The final approval hearing for the Chapter 11 plan is set for October 7, with further hearings in October, November, and December. Actual repayments may start in early 2025, depending on any objections or revisions.
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