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Bankrupt crypto exchange FTX is set to distribute $5.4 billion to creditors starting May 30. Payments will be processed via BitGo or Kraken within 1-3 business days, sourced from FTX’s $11.4 billion cash reserves.
- FTX creditors to receive 119% of their holdings' value at bankruptcy filing date.
- Payouts funded by $11.4B cash reserves and FTX’s 8% stake in Anthropic.
- Smaller creditors in 'Convenience Class' began receiving distributions in February.
📎 Related coverage from: dailyhodl.com