FTX To Distribute Next Creditor Payments On Sept. 30
Defunct crypto exchange FTX will distribute its next repayments to creditors on Sept. 30, marking the third major payout in its ongoing multi-billion-dollar repayment plan. The expected payout, detailed in a July 23 statement , comes after FTX received authority from the Bankruptcy Court “to reduce the disputed claims reserve by $1.9B billion, from $6.5B to $4.3B, releasing cash to be distributed to holders of allowed claims in the Next Distribution.” While the full amount is available, FTX has not yet specified how much of it will be included in the September payout, which is likely to be performed through BitGo, Kraken and Payoneer. The company has set Aug. 15 as the cut-off date for creditors with approved claims. FTX Has Already Paid Out $6.2 Billion The firm started paying back creditors earlier this year, and has already paid out nearly $6.2 billion after its redistribution plan was approved by the US bankruptcy court. That amount was paid out in two tranc...
