China · Bitcoin · Cambodia · CryptoSlate
FTX begins $900 million payout as creditors in 45 countries could lose their asserts within 6 months
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
FTX has about $900 million lined up for July 31, but the payout only reaches creditors who cleared the June 16 checks and completed onboarding with an available provider.
Key facts
- FTX has about $900 million lined up for July 31, but the payout only reaches creditors who cleared the June 16 checks and completed onboarding with an available provider
- FTX’s announced cumulative distributions of 105% for Classes 5A and 5B, 103% for Classes 6A and 6B, and 120% for Class 7 do not represent gains against current crypto prices
- Later coverage cannot restore the July 31 payment for someone who failed to complete onboarding by the June 16 cutoff
- FTX announced that holders of allowed claims in Classes 5A, 5B, 6A, 6B and 7 who met those conditions should receive funds from BitGo, Kraken or Payoneer within one to three business days from July 31
Summary
01 FTX’s fifth bankruptcy distribution is set for July 31, sending about $900 million to eligible creditors. 02 Only allowed claims in Classes 5A, 5B, 6A, 6B and 7 that cleared June 16 checks can receive funds through BitGo, Kraken or Payoneer. 03 Creditors in 45 jurisdictions are still blocked, and missing the six-month onboarding window could forfeit claim distributions. FTX announced that holders of allowed claims in Classes 5A, 5B, 6A, 6B and 7 who met those conditions should receive funds from BitGo, Kraken or Payoneer within one to three business days from July 31.