FTX Begins Second Creditor Repayment

JH Kim

Summary

FTX announced that it has launched its second creditor repayment process.
This repayment amounts to over $5 billion and is targeted at account-holding customers and general unsecured creditors from the time of the 2022 bankruptcy.
It was stated that it may take 1 to 3 business days for the repayment funds to be distributed.

FTX, the cryptocurrency exchange that filed for bankruptcy in 2022, announced on the 30th (local time) via its official X (formerly Twitter) account that it has begun its second round of creditor repayments.

This round of repayments amounts to over $5 billion and targets customers and general unsecured creditors who held accounts at the time of the bankruptcy in November 2022.

It may take 1 to 3 business days for the repayment funds to be distributed.