FTX Sets $900M Creditor Payout as SBF Clemency Push Loses Support

FTX sets $900M creditor payout as SBF clemency push loses support

FTX will distribute nearly $900 million to eligible creditors on July 31, marking its fifth payout round in its bankruptcy recovery process.

The Hidden Cost In FTX's 'Generous' Creditor Payouts

FTX is preparing to send roughly $900 million to creditors at the end of July, marking its fifth distribution since the exchange collapsed in 2022. Eligible recipients across the Convenience and Non-Convenience classes are expected to receive payments within three business days of July 31 through BitGo, Kraken, or Payoneer. At first glance, the payout looks like a clear win for creditors. Combined with the $2.2 billion distributed in March, the …

FTX to Begin $900 Million Creditor Distribution on July 31

What Is FTX Paying Creditors This Time? FTX will begin distributing roughly $900 million to eligible creditors starting July 31, marking the fifth repayment round under the failed crypto exchange’s Chapter 11 bankruptcy plan. Eligible recipients are expected to receive their funds within 3 business days through BitGo, Kraken, or Payoneer. The distribution applies to creditors in the plan’s Convenience and Non-Convenience classes, the same broad …