• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

FTX: Repayments to Creditors May Start in October

user avatar

by Giorgi Kostiuk

2 years ago


There are unconfirmed reports that the bankrupt crypto exchange FTX will start paying its creditors in October.

Expected FTX Payments

From widespread expectations, the repayment plan could be approved when FTX’s proposed restructuring program gets the nod from the court on October 7. Some FTX creditors expect the exchange’s customers to get between 10% and 25% of their crypto back.

Creditors' Opinions

An acclaimed activist, Sunil Kavuri, noted his expectations after spotting a recent move by FTX, where the defunct crypto exchange transferred 18% of the DOJ forfeiture funds, amounting to about $230 million, to equity holders. According to Kavuri, this might indicate future repayments to customers.

The transfer of 18% of DOJ funds shows FTX's readiness to start repayments.Sunil Kavuri

Uncertainties and Next Steps

Although Kavuri and other creditors are making scientific guesses as to when and how FTX would execute the proposed settlement of customers, none of the creditors are certain about the failed exchange’s programs. Some affected parties think the situation will remain unclear until after the court’s decision on October 7.

The upcoming court session on October 7 is expected to shed light on the next steps and conditions for repayments to FTX's creditors.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Justin Sun Transfers $162 Million in Tokens to HTX Exchange

chest

Justin Sun has transferred a total of five different tokens worth approximately $162 million to the HTX exchange.

user avatarKofi Adjeman

JPMorgan's Kinexys Payment System Approaches $10 Billion in Daily Transactions

chest

JPMorgan's blockchain-based payment system, Kinexys, is nearing $10 billion in daily transaction volumes as it expands into the industrial sector.

user avatarSatoshi Nakamura

Mitsubishi Corporation to Utilize JPMorgan's Kinexys for Faster Fund Transfers

chest

Mitsubishi Corporation will adopt JPMorgan's Kinexys platform to streamline its global supply chain payments and reduce settlement times.

user avatarNguyen Van Long

Developers Gain Access to Live Public RPC Endpoint

chest

Developers can now access a live public RPC endpoint to connect wallets, query blockchain data, and test smart contracts on the Pi Testnet.

user avatarJesper Sørensen

Charles Hoskinson Launches Direct Attack on Ripple Over CLARITY Act

chest

Charles Hoskinson criticizes Ripple and its CEO for allegedly manipulating the CLARITY Act to eliminate competition, warning of potential legal risks for developers.

user avatarRajesh Kumar

Market Analyst Highlights Risks in Bittensor's Economic Model

chest

Market analyst Alex Carchidi warns of a valuation mismatch in Bittensor's tokenomics that could impact TAO's price.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.