{"id":27088,"date":"2025-05-16T07:17:48","date_gmt":"2025-05-16T07:17:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27088"},"modified":"2025-05-16T07:17:48","modified_gmt":"2025-05-16T07:17:48","slug":"ftx-to-pay-over-5b-to-creditors-as-bankrupt-exchange-gears-up-for-distribution","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27088","title":{"rendered":"FTX to Pay Over $5B to Creditors as Bankrupt Exchange Gears Up for Distribution"},"content":{"rendered":"<div>\n<p>FTX creditors are set to receive over $5 billion in distributions starting May 30, as part of the second phase of the bankrupt exchange\u2019s court-approved recovery plan, the FTX Recovery Trust <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-recovery-trust-to-distribute-more-than-5-billion-to-creditors-in-second-distribution-on-may-30-2025-302456976.html\">said Thursday<\/a>.<\/p>\n<p>The estate will pay out to four classes of creditors, with recoveries ranging from 54% to 120% of their original claims. The amounts are based on the U.S. dollar value of customer holdings at the time of FTX\u2019s collapse in November 2022.<\/p>\n<p>BitGo and Kraken, two custodians overseeing the distribution process, are expected to transfer funds to eligible claimants within one to three business days from May 30.<\/p>\n<p>The payout breakdown includes \u201cClass 5\u201d creditors, or Alameda Research counterparties, lenders, and trading vendors, who are set to receive between 54% and 72% of approved claims.<\/p>\n<p>Small, unsecured claimants are recovering about 61%. Meanwhile, intercompany claims involving FTX\u2019s various subsidiaries are being repaid at 120%.<\/p>\n<p>Over 90% of all claims have entered the distribution pipeline, the Repayment Trust said in its release.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>FTX creditors are set to receive over $5 billion in distributions starting May 30, as part of the second phase of the bankrupt exchange\u2019s court-approved recovery plan, the FTX Recovery Trust said Thursday. The estate will pay out to four classes of creditors, with recoveries ranging from 54% to 120% of their original claims. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27088","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27088"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27088\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}