- FTX will start distributing more than $ 5 billion to users and creditors accredited on May 30, approximately three years of the stock exchange collapse.
- Although creditors have expressed their excitement, others have criticized the plan to use encryption values, arguing that it may lead to smaller returns due to market changes since the collapse.
FTX is preparing to return more than $ 5 billion to its users and creditors. The payment will start on May 30 as part of the bankruptcy process. This step is the next step in the bankruptcy exchange plan to return money to those who owe.
Three years after the FTX bankruptcy, the collapsed stock exchange began to pay users who lost access to their money. According to the joint notification on May 15, the FTX Recovery Trust Fund said that more than $ 5 billion will be sent from May 30. These payments will go to the second batch of creditors who have been approved, and they will be dealt with by Bitgo and Kraken within one day to three working days.
FTX payment plan for recovery and recovery plan
According to the detailsNot all account holders will receive payments on this tour. Four groups of major creditors, including lenders, trade partners, sellers, and others, are scheduled to receive between 54 % and 120 % of the total amount due at FTX collapsed in November 2022. Smaller demands will be repharic at about 61 %.
The next round of payment will be announced at a later time. John Ji Ray III, who leads the payment, described this stage as an important step forward in emptying the debt, given the complexity of the issue. Many affected users were awaiting anxiety, and this represents an important progress towards compensation for those who lost their money when the stock exchange collapsed.
In all this, while many users are excited to return their money, many have questioned the payment plan, believing that this method is unfair, as prices have changed a lot since then, and may lead to a decrease in the returns of the affected people.
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