FTX Distributes $5 Billion More to Creditors, Aiming for Total Recovery

FTX has initiated its second round of creditor payouts, distributing over $5 billion in a move toward fulfilling the terms of their Chapter 11 reorganization plan. Eligible customers will receive payments ranging from 54% to 120%, depending on their claim classification. This distribution follows the priority waterfall outlined in the plan, with Class 7 Convenience Customers receiving the highest percentage – 120%. The company is using assets from its $11.4 billion cash reserves for these payouts.