FTX Commences $5 Billion Stablecoin Repayment Plan

Collapsed crypto exchange FTX has initiated the distribution of over $5 billion in stablecoins to its creditors, marking a significant milestone in the resolution of its bankruptcy proceedings. This repayment plan commences today at 9:00 AM ET, providing much-needed relief to thousands of individuals and businesses impacted by the FTX collapse. The disbursement prioritizes verified claims from both individual and institutional creditors.