FTX to Start Next Creditor Payout in September Following Court Approval
Main Idea
FTX will distribute the next batch of creditor claims starting September 30, 2025, reducing disputed claims by $1.9 billion, while facing legal challenges from Chinese creditors.
Key Points
1. FTX announced the next disbursement date for eligible claims will be on August 15, 2025, with payments expected to begin around September 30, 2025.
2. The disputed claims reserve has been reduced from $6.5 billion to $4.3 billion.
3. Payments will be made through BitGo, Kraken, and Payoneer, and only verified claim holders who complete KYC by the August record date will receive funds.
4. FTX has returned approximately $6.2 billion to former customers across two major rounds, with an overall repayment plan aiming to distribute between $14.7 billion and $16.5 billion.
5. The FTX Recovery Trust filed a motion on July 4 to exclude customers in 49 restricted jurisdictions, including China, which accounts for 82% of $800 million in disputed claims, sparking backlash from Chinese creditors.
Description
Defunct crypto exchange FTX has announced that it will start distributing the next batch of creditor claims on September 30. This is after the bankruptcy court granted permission for it to reduce its disputed claims by $1.9 billion. Disputed Claims Reserve Slashed by $1.9B In a July 23 press release, FTX revealed that the next disbursement date for eligible demands will be on August 15, 2025. Payments are expected to begin on or around September 30, 2025. This timeline applies to Class 5 Custome...
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