FTX Trading Ltd., along with the FTX Recovery Trust, has confirmed that it will begin its second round of distributions to eligible creditors on May 30, 2025. The distribution will be carried out under the company’s Chapter 11 Plan of Reorganization and will involve payments totaling more than $5 billion. FTX $5 Billion Repayment Plan for Creditors A press release published on May 15 reported that the FTX Recovery Trust will pay out funds to creditors who have allowed claims through the Plan. If a creditor in the Convenience or Non-Convenience class completed the onboarding with a chosen Distribution Service Provider, they will be eligible for the payout. Some of the companies offering distribution services include Bitgo and Kraken. The announcement comes as part of the company’s continuing effort to resolve bankruptcy claims following its 2022 collapse. The distribution is expected to reach eligible recipients within 1 to 3 business... Read More at Coingape.com
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