FTX creditor representative Sunil said on July 31 that FTX distribution funds had been deposited into creditor accounts, marking the start of the exchange’s fifth round of repayments. Under the previously announced plan, FTX was set to begin this round on July 31, distributing about $900 million to creditors in the "Convenience" and "Non-Convenience" classes under its recovery plan. With this round now underway, total payouts made by the FTX Recovery Trust since FTX filed for bankruptcy in November 2022 are expected to reach about $10 billion. The update provides a fresh milestone in the estate’s repayment process as funds begin landing in creditor accounts.
FTX distribution funds have been deposited into creditor accounts, according to a July 31 post from FTX creditor representative Sunil.
FTX had previously said it would start its fifth round of creditor repayments on July 31. The round is set to distribute about $900 million to creditors in the "Convenience" and "Non-Convenience" classes under the recovery plan.
With the latest round now in motion, cumulative payouts by the FTX Recovery Trust are expected to reach about $10 billion since FTX filed for bankruptcy in November 2022.
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