New Development in FTX Payments! New Date and Details Announced for the Long-awaited Next Major Creditor Repayments!

FTX, the bankrupt exchange that unexpectedly went bankrupt in 2022 and caused the Bitcoin price to collapse, continues to issue refunds. At this point, there was a new development regarding repayments, and the next distribution record date for FTX creditors was set as August 15. According to the official statement, FTX Recovery Trust, the organization responsible for the remaining assets of the bankrupt cryptocurrency exchange, has set August 15 as the record date for the next fund distribution to creditors. Based on the August 15 record date, FTX will begin distributing funds to eligible creditors starting September 30, 2025. FTX will distribute funds to general unsecured creditors, government agencies, priority creditors, and junior creditors starting September 30. It was reported that the payment will be made via BitGo, Kraken and Payoneer. FTX also added that it has received authorization from the Bankruptcy Court to reduce its disputed receivables reserve from $6.5 billion to $4.3 billion, with the remaining $1.9 billion in cash to be distributed to permitted claimants in the Next Distribution scheduled for September 30th. To date, FTX has distributed approximately $6.2 billion to its users across two distributions: $1.2 billion in February and $5 billion in May this year. According to the total repayment plan, FTX aims to distribute between $14.7 billion and $16.5 billion. *This is not investment advice. Continue Reading: New Development in FTX Payments! New Date and Details Announced for the Long-awaited Next Major Creditor Repayments!