FTX to Distribute $5 Billion in Creditor Payments by May 2025

FTX has unveiled plans for a significant distribution of funds to creditors, aiming to settle over $5 billion by May 2025. John J. Ray III, the firm’s bankruptcy expert, is at the helm of this process, which offers a hopeful outlook for impacted individuals and businesses. The distribution reflects an unprecedented level of creditor interaction in the cryptocurrency industry, showcasing a major shift towards more streamlined recovery processes. This substantial disbursement will be facilitated through FTX’s Recovery Trust, with approved creditors receiving payments between 54% and 120% of their claims, according to details outlined in the process plan.