The FTX Recovery Trust has launched the second round of payment to its creditors. On 30 May, the Trust began paying $ 5 billion to eligible creditors in convenience and non-convenience classes, who have met pre-distribution requirements.
According to May 28 Announcement, Distribution of creditors Dotcom customer will include entitlement claims, which are receiving 72% distribution; American customer eligibility claims, which are receiving 54% distribution; And the claims of convenience, which will receive 120% distribution.
Additionally, the claims of general unsafe claims and digital asset loans will receive each 61% distribution according to the reimbursement scheme. Recipients should receive their claims in one to two commercial days Official distribution partnerCrackon and Bitgo.
Crypto investors and speculators closely monitors FTX creditor distribution as the reimbursement can affect digital asset markets and causes volatility in value if the liquidity is drained or swapped on retail exchanges.
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First round of FTX creditor reimbursement
First round of FTX creditor payment The claims were distributed on 18 February for recipients with less than $ 50,000 and a total of $ 1.2 billion.
At the time, Alvin Kan, the Chief Operating Officer of Bittgt Wallet, told Cointelegraph that the $ 1.2 billion “important part” could be brought back to the Crypto markets.
The reimbursement plan leaves the creditors high and dry
The FTX reimbursement has created controversy between creditors and customers of now-deformed exchange.
In September 2024, FTX creditor Sunil Kavuri shared the court documents, saying that FTX creditors would be reimbursed as the date when their petition was filed instead of the current market prices.
Out exchange creditor Only 10% -25% of his crypto received According to the investor, the value of holdings due to the court’s decision.
Kavuri said, “Crypto holders are not met on the date of date prices, as confirmed by the Debels, the United States Business Department and Judge Council.”
For reference, the creditor petition was filed during the depth of Crypto winter when the price of bitcoin was (BTC) About $ 16,000.
Kavuri again played the alarm in February this year, when she focused on creditors in 163 countries, which are DisqualifiedInhabitants in Egypt, Iran, Russia, Greenland, Pakistan and in Other,
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