FTX to Distribute $5B to Creditors Starting May 30

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FTX Recovery Trust will begin distributing over $5 billion to creditors on May 30 as part of its Chapter 11 reorganization plan. Eligible claimants will receive funds via BitGo or Kraken within one to three business days. This marks the second major payout since FTX’s bankruptcy filing in 2022.

  • FTX creditors will receive over $5 billion starting May 30 via BitGo or Kraken, marking the second major payout since bankruptcy.
  • Smaller creditors (under $50,000) were fully reimbursed with 9% interest in February, while larger claims are processed in upcoming rounds.
  • Payout percentages vary by claim class, with US-based customers receiving 54% and convenience claims getting 120%.
Related Tags: FTX Kraken
Other Tags: John J. Ray III, BitGo
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