FTX Announces Second Distribution of $5 Billion to Eligible Creditors

FTX is set to distribute over $5 billion to eligible creditors in a second phase of its Chapter 11 reorganization plan. This distribution, scheduled for May 30, 2025, will benefit holders of allowed claims from the convenience and non-convenience classes who have completed the necessary pre-distribution requirements. Eligible creditors will receive funds from their distribution provider, Bitgo or Kraken, within one to three business days starting on May 30th. 2nd distribution is planned after completing the first phase in February 2025.