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FTX’s Recovery Trust is set to distribute over $5 billion to creditors starting May 30, marking the second phase of its repayment strategy. This follows the initial phase in February 2025, as the defunct crypto exchange continues its complex bankruptcy proceedings. The move could inject liquidity into the altcoin market, potentially boosting buying pressure.
- FTX’s second repayment phase begins May 30, distributing $5B to creditors, with Class 5 and 6 claimants eligible.
- Payments will be processed via third-party platforms like BitGo and Kraken, ensuring secure transactions.
- Creditors may receive up to 118% of their claim value, though based on November 2022 crypto valuations, sparking some dissatisfaction.
📎 Related coverage from: crypto-news-flash.com