FTX Trading Ltd. and the FTX Recovery Trust have announced the second distribution for creditors, scheduled for May 30, 2025, amounting to $5 billion.
Details on the Second Distribution
The second distribution will total $5 billion and will be allocated to creditors allowed under the FTX reorganization plan. Eligible creditors must complete pre-distribution processes.
Eligible Creditors and Payment Process
Eligible creditors will receive funds from their distribution providers – either Bitgo or Kraken – within one to three business days starting May 30, 2025. The distribution covers both Convenience and Non-Convenience classes.
Administrator's Remarks on the Distribution
John J. Ray III, plan administrator of the FTX Recovery Trust, emphasized the significance of this step for the company, noting that it marks the first non-convenience class distribution.
CITE_W_A: "These first non-convenience class distributions are an important milestone for FTX..."
The second distribution of FTX represents a significant milestone for its creditors. The process is expected to be timely, allowing many to receive their owed funds.
