FTX to Distribute Over $5B to Creditors Beginning May 30, 2025 💰
FTX, the now-defunct cryptocurrency exchange, is set to distribute over $5 billion to its creditors starting May 30, 2025. This initiative highlights FTX’s efforts to make amends following its downfall.
Collaborating with Kraken and BitGo, FTX Recovery Trust aims to optimize the distribution process while continuing to recover funds and resolve outstanding claims. This second phase of fund distribution underscores FTX’s commitment to its creditors.
The announcement not only marks a step forward in resolving FTX’s financial obligations but also reflects broader industry trends in addressing fallout from past corporate failures.
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