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.

Наиболее читаемые новости

Peter Thiel and Billionaire Consortium To Lau...
2025-07-02
Solana Price May See Trend Shift If It Sustai...
2025-07-02
SOL news update: REX Shares Solana ETF boosts...
2025-07-02
Ethereum Faces Mixed Signals as Hedge Funds I...
2025-07-02
Trump’s Bitcoin Holdings May Represent Signif...
2025-07-02
Bitcoin and Ethereum Bounce, But This Meme Co...
2025-07-02
Top Shiba Inu (SHIB) Price Predictions as of...
2025-07-02
Inflation Fears From ‘Big Beautiful Bill’ Cou...
2025-07-02

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения