{"id":157395,"date":"2025-05-17T22:00:00","date_gmt":"2025-05-17T19:00:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=157395"},"modified":"2025-05-17T20:21:29","modified_gmt":"2025-05-17T17:21:29","slug":"ftx-to-begin-multi-billion-dollar-creditor-repayments-by-end-of-may","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ftx-to-begin-multi-billion-dollar-creditor-repayments-by-end-of-may\/","title":{"rendered":"FTX to Begin Multi-Billion Dollar Creditor Repayments by End of May"},"content":{"rendered":"

According to a new update<\/a><\/strong>, more than $5.4 billion will be distributed during this first round, with eligible recipients receiving funds through either BitGo or Kraken within several business days.<\/p>\n

The payout comes from FTX\u2019s reported $11.4 billion in cash reserves and marks the beginning of a broader restitution plan that was approved by a U.S. bankruptcy court in late 2023. While initial distributions for smaller creditors began earlier this year, this upcoming wave targets larger claimants\u2014including individuals and institutions with multimillion-dollar exposures.<\/p>\n

The court-approved strategy is expected to return between $14.7 billion and $16.5 billion to customers affected by the platform\u2019s collapse in November 2022. Notably, around 98% of claimants are projected to receive roughly 119% of the value they were owed at the time of FTX\u2019s bankruptcy filing.<\/p>\n