FTX Bankruptcy: $5 Billion Distribution Kick Starts Recovery Efforts

A significant milestone has been reached in the ongoing FTX bankruptcy proceedings. After months of legal battles and complex asset management, the bankruptcy administrators have initiated the second phase of the repayment process, aiming to distribute over $5 billion to affected creditors. This announcement marks a crucial step towards providing much-needed financial relief to those who saw their funds impacted by the exchange’s collapse.