The Crypto Basic 2025-07-01 07:08:45

FTX Reveals Next Repayment Date to Fully Compensate Large Creditors

FTX creditor representative Sunil Kavuri has provided a new update on the next distribution of claim payments to creditors of the defunct crypto exchange. Recall that FTX commenced the distribution of funds to eligible users on February 18, 2025, starting with small creditors with claims under $50,000. According to Kavuri, FTX paid creditors in this category (those entitled to claims under $50,000) 120% of their initial claim value. This indicates that creditors received a 20% premium on their original claim value. Afterward, FTX commenced the second round of repayments on May 30, 2025, distributing $5 billion to creditors with claims over $50,000. The exchange distributed the funds within three business days of May 30. However, creditors with claims exceeding $50,000 received only 72.5% of their initial claim value. Next Payment Schedule Notably, Kavuri has disclosed the next repayment date for the remaining 27.5% of claims to large creditors. According to him, the upcoming distribution is expected to take place in Q4 2025, specifically from October to December. Additionally, he suggested that the repayment schedule could be extended to 2026 or 2027. This repayment will ensure that creditors with claims exceeding $50,000 receive 100% of their claim. Besides the claim value, these large creditors are also entitled to post-petition interest, which totals 40% to 80%. https://twitter.com/sunil_trades/status/1939692898154369096FTX's Epic Collapse and Repayment EffortsThis ongoing repayment schedule comes more than two years after FTX's collapse in November 2022. The exchange declared bankruptcy, with key executives sentenced to several years in prison. Specifically, a federal court in New York sentenced FTX founder Sam Bankman-Fried (SBF) to 25 years in prison due to his role in mismanaging users' funds, leading to the exchange’s downfall. The court subsequently sentenced other executives, including Alameda Research CEO Caroline Ellison and FTX Digital Markets CEO Ryan Salame, to two and seven-and-a-half-year jail terms, respectively. Since the epic failure of FTX, the exchange has been working to reimburse users, with repayments commencing earlier this year. Despite FTX’s efforts, many have criticized the disbursement process for valuing users’ claims at token prices as of the time of the bankruptcy filing in late 2022. It is worth noting that crypto prices have soared significantly ever since. For instance, Bitcoin, which traded around $20,000 in late 2022, has rallied more than 400% to over $100,000.

La maggior parte ha letto le notizie

IMF Rejects Pakistan’s Energy Plan for Bitcoi...
2025-07-03
Crypto Regulations In Turkey 2025
2025-07-03
Bitcoin Surges Past $109,000 Mark with 24-Hou...
2025-07-03
Solana’s first spot staking ETF launched with...
2025-07-03
Morning Pump for This Altcoin from Upbit! Alt...
2025-07-03
Shiba Inu Lead Dev Has Big News for SHIB Hold...
2025-07-03
Palmer Luckey and Peter Thiel Back New Bank E...
2025-07-03
Ethereum, Cardano, Litecoin: Should Investors...
2025-07-03

Notizie correlate

Ethereum Surges to $2,600 Mark with 3.84% 24-Hour...
03 Jul 2025
Bitcoin may tap $116K in July amid ‘perfect storm’...
03 Jul 2025
Scammer Posed as Trump-Vance Official to Steal $25...
03 Jul 2025
Bitcoin Price Surges to $109K as Pension Interest...
03 Jul 2025
Ripple Shares Safe Despite Linqto Bankruptcy Woes,...
03 Jul 2025
Ripple Seeks US Banking License as RLUSD Stablecoi...
03 Jul 2025

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta