FTX Recovery Trust announced a distribution of over $5 billion to approved creditors starting May 30, 2025, as part of its Chapter 11 Plan of Reorganization. Eligible creditors, including holders of allowed claims, must meet all pre-distribution requirements and can expect funds from Bitgo or Kraken within 1 to 3 business days. Distribution amounts vary, with certain classes receiving higher percentages based on the established priorities. This significant milestone reflects progress in FTX's recovery efforts amidst a complex creditor base and ongoing commitments to resolve outstanding claims.
Eligible creditors should expect to receive funds from their selected distribution service provider (a "Distribution Service Provider"), either Bitgo or Kraken, within 1 to 3 business days from May 30, 2025.
These first non-convenience class distributions are an important milestone for FTX," said the Plan Administrator of the FTX Recovery Trust John J. Ray III. "The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process.
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