Crackon confirmed that it would start the next round of FTX payouts on May 30, with both the claims below and above $ 50,000.
According to FTX creditor representative Sunil Recent posts on XCrackon has started sending emails to FTX users, confirming that the next round of FTX payout distribution will take place on 30 May. This distribution, which marks the second round of FTX repayment, will cover the claims below and above $ 50,000.
Now the Defunkt Crypto Exchange FTX announced on 7 February that the initial distribution to the holders of the claims allowed in the facility classes will start on February 18, which has the facility to repay through Bitgo and KrakenCrackon too be provided Trading fee credit along with payment to avoid profiteering from distribution process.
The first repayment round, which began on February. 18, covered the claims of the approved facility class of $ 50,000 or less. Small contenders will receive a full repayment plus post-petition interest of 9% per year by April 11. No payment has been made yet, including large contenders (with claims above $ 50,000), institutional investors and VC firms.
Complex legal disputes and asset recovery efforts have delayed distribution to large investors. But with the next repayment round for May 30, big investors will begin to receive your funds (+9% interest per year) for total distribution of about 16 billion dollars.
FTX, once a price of $ 32 billion, fell in November 2022, it was discovered that Almeda Research had misused the money to cover his loss. A wave of return requests was followed, but FTX could not meet him. The exchange stopped the return and filed for bankruptcy. FTX founder, Sam Bankman-Fride, was convicted in November 2023 on charges of fraud and conspiracy. Other former officials including Caroline Ellison and Gary Wang convicted and collaborated with the officials. John J. Ray III took over as CEO in November 2022 and led to efforts to detect and recover the lost assets of FTX through cases, real estate procurement and the liquidation of the remaining assets of FTX.
