FTX Creditors to Receive $1.6 Billion in Third Distribution on September 30
The post FTX Creditors to Receive $1.6 Billion in Third Distribution on September 30 appeared on BitcoinEthereumNews.com.
FTX creditors to receive $1.6 billion in third distribution on September 30, accelerating repayments amid ongoing bankruptcy proceedings and recovery efforts. The FTX Recovery Trust has announced a third distribution of funds worth approximately $1.6 billion. The payout is scheduled for September 30, 2025. It is part of the company’s ongoing Chapter 11 bankruptcy proceedings. This is the biggest move towards compensating former clients and creditors since the collapse of the exchange in November 2022. FTX to Begin Third Payout Round via BitGo, Kraken, Payoneer Payments to eligible creditors will be made under one of three acceptable Distribution Service Providers, which are BitGo, Kraken or Payoneer. With the release of the payout, it is expected to take one to three business days to get the funds. This is meant to provide fast safe access to recovered assets. The Chapter 11 Plan of FTX provides that various categories of claimants will have different percentages according to the claims. These are called waterfall priorities which implies that there are claimants that are paid ahead of others based on the kind of claim that they had made. Related Reading: FTX Estate Unstakes $45M in Solana, Sparking Curiosity Dotcom Customer Entitlement Claims (Class 5A) will obtain a payment of 6 percent of this round, and will have fully recovered 78 percent. U.S. Customer Entitlement Claims (Class 5B) will be distributed 40 percent, and cumulative recovery will be 95 percent. These numbers indicate great development of the repayment process. Class 6A and Class 6B General Unsecured Claims will have a 24% payout and Digital Asset Loan Claims, respectively. This has recovered them 85 percent to date. Lastly, Convenience Claims (Class 7) will be reimbursed 120% and hence will be fully reimbursed with extra amount. FTX Trust to Announce More Distribution Dates Soon The initial two…
Filed under: News - @ September 20, 2025 7:16 pm