FTX Announces Second Distribution Phase for Over $5 Billion in Creditor Funds

The defunct cryptocurrency exchange, FTX, has announced the commencement of the second phase of fund distribution to creditors, aiming to disburse over $5 billion in assets. This initiative involves a collaboration with Kraken and BitGo, prominent cryptocurrency exchanges, to facilitate seamless distribution of funds in digital assets, including stablecoins. Eligible creditors are expected to receive their payments within a timeframe of 1-3 business days following May 30th, 2025.