FTX, the bankrupt cryptocurrency exchange, will start a third round of creditor fund distribution from September 30, and plans to pay a total of about 1.60 billion US dollars. This round of repayment will be for both "convenience claims" and "non-convenience claims". Among them, convenience claims mainly account for 99% of the total number of creditors. Individual and small creditors.
According to FTX's previous two rounds of distribution plans, retail users are expected to receive about 120% of their account balance in fiat currency at the time of bankruptcy. However, some users have expressed dissatisfaction, pointing out that the current cryptocurrency market has rebounded sharply, and cash payments are far lower than the value of the original assets held.
So far, unsecured creditors have been paid a cumulative 85%, and FTX's bankruptcy plan expects them to eventually be paid in full. The bankruptcy plan is based on more than $15 billion in recovered assets, including cash, proceeds from the sale of Anchorage, Robinhood shares, and cryptocurrencies such as SOL.
Eligible creditors are expected to receive payments through partner service providers such as BitGo, Kraken, or Payoneer within one to three business days from September 30.
FTX filed for bankruptcy in November 2022 due to a liquidity crisis, and then exposed a large number of user funds being misused and out of control.
FTX to launch third round of creditor payments totaling $1.60 billion
2025-09-19 20:57:32
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