FTX Begins $5 Billion Second Payment Round to Bankruptcy Claim Holders

After months of anticipation, former users of bankrupt cryptocurrency exchange FTX began receiving payments from the second phase of its bankruptcy plan. Today, FTX officials confirmed that over $5 billion will be distributed to holders of accepted claims, encompassing both Convenience and Non-Convenience classes, pending certain pre-distribution requirements. The company promises a timeframe of 1 to 3 business days for payment delivery to users.