Summary
- FTX announced it will begin distributing funds to creditors starting September 30.
- The creditor compensation fund has expanded due to a $1.9 billion reduction in dispute claim reserves approved by the court.
- It stated that the first round of distributions will officially initiate recovery procedures for major creditors.
The cryptocurrency exchange FTX, which is undergoing bankruptcy proceedings, is set to begin distributing funds to creditors starting September 30.
According to WuBlockchain on the 24th (local time), FTX will begin distributing funds from September 30 to general unsecured creditors, government agencies and priority creditors, as well as small claimants. The reference date for distribution has been set as August 15, 2025.
This distribution follows a $1.9 billion reduction in dispute claim reserves approved by the court. The reserves have been reduced from $6.5 billion to $4.3 billion, with the reduced amount being used as creditor compensation funds. Through this first round of distributions, FTX plans to officially initiate recovery procedures for major creditors.
Suehyeon Lee
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