FTX to distribute $2.2 billion to creditors starting March 31

FTX, the bankrupt cryptocurrency exchange, is set to begin its fourth round of creditor repayments on March 31, distributing approximately $2.2 billion to eligible claimants. The FTX Recovery Trust, responsible for managing recovered assets and payments, announced the distribution, which will be facilitated by partners like BitGo, Kraken, and Payoneer. Claim holders should expect to receive funds within one to three business days. Preferred equity holders have until April 30 to qualify for their first payments, scheduled for May 29. Payouts will vary based on claim type: Dotcom customers will receive an additional 18% (reaching 96% total recovery), US customers will receive 5% (completing 100% recovery), and general unsecured and digital asset loan claims will receive 15% (also reaching 100% total recovery). Convenience claims are expected to achieve 120% overall recovery. Creditors must complete necessary onboarding, identity verification, and tax requirements to receive payouts, while preferred equity holders must confirm ownership by the record date.

(Source：Crypto Briefing)