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FTX’s Initial $1.2B Payout Process to Creditors Is Underway

Summary by Coin Desk

The payouts, totaling around $1.2 billion in this phase, are being distributed in U.S. dollars through BitGo and Kraken.

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Bloomberg

FTX Estate Begins to Repay Bankrupt Exchange Creditors in Cash

The estate of bankrupt crypto exchange FTX has begun distributing cash to creditors more than two years after Sam Bankman-Fried’s trading platform imploded.

4 days ago·United States

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Coin Desk

FTX’s Initial $1.2B Payout Process to Creditors Is Underway

The payouts, totaling around $1.2 billion in this phase, are being distributed in U.S. dollars through BitGo and Kraken.

4 days ago·Manila, Philippines

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NullTX

FTX Begins Paying Small Claims, with Bigger Payments Scheduled for 2025

In late 2022, the cryptocurrency exchange FTX, which had collapsed, commenced a process of significant financial recovery for those affected by its failure and began to make partial repayments to its creditors. Sunil, who is an FTX creditor, took to Twitter recently to talk about the repayments. He revealed that FTX has thus far paid out $800 million to 162,000 accounts. These partial repaymentsaree being made to customers with the smallest clai…

2 days ago

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AMBCrypto

FTX crypto exchange starts repayment with $50K claims, eyes May 30 for higher payouts

Defunct FTX crypto exchange has begun first phase of repayments for those with claims worth $50K or below. Large claims will be repaid in May

3 days ago

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Tekedia

FTX Repayments Begins through Kraken and BitGo Exchanges

FTX creditors have indeed started receiving their repayments through Kraken Exchange. The process began as part of the court-approved Chapter 11 reorganization plan, with initial payments to eligible creditors starting in early 2025. This includes those with claims valued at $50,000 or less, who are part of the “convenience class” and are set to receive […] The post FTX Repayments Begins through Kraken and BitGo Exchanges appeared first on Teked…

3 days ago

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Blockhead

FTX Begins Creditor Payouts, Sets Next Distribution Date

FTX Trading Ltd. and the FTX Recovery Trust have commenced initial distributions to creditors, marking the first major round of repayments since the exchange filed for bankruptcy in 2022. The first batch of payments is being made to holders of allowed claims in FTX’s Convenience Class (

3 days ago

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