FTX Begins Second Repayment Phase, Distributing $5 Billion to Creditors

FTX has initiated its second phase of repayment distribution to creditors, disbursing over $5 billion. This follows a previous smaller disbursement, with Kraken and BitGo playing key roles in managing the fund transfers throughout the process. FTX’s repayment strategy, overseen by John J. Ray III, focuses on providing varied percentages to different claims – 72% for Dotcom Customer Entitlement Claims and 54% for US Customer Entitlement Claims – demonstrating a strategic approach to allocate funds effectively.