FTX Set to Distribute About $600 Million More to Creditors on July 31
Summary
- Bankrupt cryptocurrency exchange FTX is expected to make an additional distribution to creditors later this month.
- A creditors' representative, Sunil, wrote on X that the next distribution is expected on July 31 and will total about $600 million.
- Markets are watching whether the FTX creditor payout will lead to an actual recovery of liquidity and reinvestment demand.
Forecast Trend Report by Period
Bankrupt cryptocurrency exchange FTX is set to make an additional distribution to creditors at the end of July.
Crypto-focused media outlet Odaily reported on July 13 that Sunil, a representative of FTX creditors, wrote on X that the next payout is expected on July 31 and will total about $600 million.
Some creditors in certain regions remain excluded from the distribution. Sunil wrote that 45 jurisdictions, including China, Egypt and Russia, are still subject to participation restrictions.
FTX has been repaying creditors in stages through its bankruptcy process. Its next distribution had previously been expected on March 31, when total claims were estimated at about $9.6 billion.
Markets are watching whether the FTX creditor payout will lead to an actual recovery of liquidity and renewed reinvestment demand.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.