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FTX estate to start distributing more than $5B on May 30

Coin Telegraph LogoCoin Telegraph9h ago

FTX estate to start distributing more than $5B on May 30 - Coin Telegraph

Quick Summary:

Starting on May 30, FTX will send more than $5 billion to creditors “within 1 to 3 business days” through crypto firms BitGo and Kraken. In accordance with the reorganization plan, FTX said five groups of “convenience classes” would receive between 54% and 120% distribution of assets.

Criminal cases already wrapped, nearing the endThe estate’s announcement came more than a year after former FTX CEO Sam “SBF” Bankman-Fried was found guilty at trial and sentenced to 25 years in prison for his role in misusing customer funds.

Though former FTX users will likely be seeing their funds for the first time since the exchange collapsed in November 2022, many have criticized the reorganization plan for basing disbursement on the prices of cryptocurrencies at the time of bankruptcy.

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Article Details

Author / Journalist: Cointelegraph by Turner Wright

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-15 @ 21:24:57 (9 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28734630

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 39 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

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  • URL: https://chronographically.beamstart.com/news/ftx-estate-to-start-distributing-17473414888964

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