Kraken has begun notifying FTX users of the next payment distribution scheduled for May 30, 2025, covering claims above and below $50,000.
Distribution Confirmation
FTX payee representative Sunil announced via social media that Kraken has started notifying users and clients about the upcoming payment distribution. This phase will cover claims both under and above $50,000, marking progress in the repayment process following the FTX collapse.
Delays and Past Payments
Creditors have been waiting for clarity regarding compensation since the exchange's collapse in November 2022. Previous distributions primarily addressed smaller claims, whereas larger claimants faced delays due to legal and administrative processes.
Market Response and Next Steps
The FTX repayment process has been a major focus for the crypto industry. Confirmation of a new distribution date could provide relief to creditors, although the full extent of recoverable assets is still under review. FTX's bankruptcy proceedings are ongoing, with further updates expected as stakeholders await clarity on total funds recovered and potential future distributions.
The confirmation of the May 30 date may provide hope to FTX creditors for the recovery of funds, though the total amount and payout percentages remain unspecified. Stay tuned for updates as the process develops.
